California State Teachers Retirement System raised its stake in shares of Mistras Group Inc. (NYSE:MG) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,969 shares of the company’s stock after buying an additional 457 shares during the period. California State Teachers Retirement System owned 0.12% of Mistras Group worth $859,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. American Century Companies Inc. purchased a new stake in Mistras Group during the second quarter worth about $208,000. Strs Ohio increased its stake in Mistras Group by 81.1% in the second quarter. Strs Ohio now owns 9,600 shares of the company’s stock worth $229,000 after buying an additional 4,300 shares during the last quarter. Algert Global LLC purchased a new stake in Mistras Group during the first quarter worth about $379,000. BLB&B Advisors LLC increased its stake in Mistras Group by 1.4% in the second quarter. BLB&B Advisors LLC now owns 15,908 shares of the company’s stock worth $380,000 after buying an additional 218 shares during the last quarter. Finally, AMP Capital Investors Ltd purchased a new stake in Mistras Group during the first quarter worth about $388,000. 56.35% of the stock is currently owned by institutional investors.
Mistras Group Inc. (NYSE:MG) traded up 0.43% during trading on Friday, reaching $23.47. The company had a trading volume of 153,933 shares. Mistras Group Inc. has a 52 week low of $12.65 and a 52 week high of $26.47. The company’s 50-day moving average is $23.97 and its 200 day moving average is $24.48. The firm has a market capitalization of $679.57 million, a price-to-earnings ratio of 28.62 and a beta of 1.25.
Mistras Group (NYSE:MG) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. The company had revenue of $184.20 million for the quarter, compared to the consensus estimate of $177.59 million. Mistras Group had a return on equity of 10.61% and a net margin of 3.43%. Mistras Group’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 earnings per share. Equities analysts anticipate that Mistras Group Inc. will post $1.01 EPS for the current year.
A number of research firms have issued reports on MG. CIBC lifted their target price on Mistras Group from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 9th. Zacks Investment Research upgraded Mistras Group from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Friday, July 22nd. TD Securities dropped their target price on Mistras Group from $51.00 to $46.00 and set a “buy” rating for the company in a report on Monday, July 11th. Finally, Robert W. Baird upgraded Mistras Group from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $27.00 to $28.00 in a report on Friday, August 12th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $37.93.
In other Mistras Group news, insider Dennis Bertolotti sold 21,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $24.97, for a total transaction of $524,370.00. Following the completion of the transaction, the insider now owns 101,062 shares of the company’s stock, valued at $2,523,518.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 45.60% of the company’s stock.
About Mistras Group
Mistras Group, Inc is a provider of asset protection solutions. The Company offers one source for asset protection solutions to its customers. The Company has three segments: Services, Products and Systems, and International. The Company’s Services segment provides asset protection solutions consisting primarily of non-destructive testing and inspection, and engineering services that are used to evaluate the structural integrity and reliability of energy, industrial and public infrastructure.
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