Bank of New York Mellon Corp raised its position in shares of Mistras Group Inc. (NYSE:MG) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 78,958 shares of the company’s stock after buying an additional 1,155 shares during the period. Bank of New York Mellon Corp owned approximately 0.27% of Mistras Group worth $1,885,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Mistras Group by 2.7% in the first quarter. Wellington Management Group LLP now owns 2,881,038 shares of the company’s stock worth $71,364,000 after buying an additional 74,746 shares in the last quarter. Rockefeller Financial Services Inc. boosted its stake in shares of Mistras Group by 1.3% in the second quarter. Rockefeller Financial Services Inc. now owns 589,705 shares of the company’s stock worth $14,076,000 after buying an additional 7,786 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Mistras Group by 16.4% in the second quarter. Acadian Asset Management LLC now owns 308,776 shares of the company’s stock worth $7,371,000 after buying an additional 43,527 shares during the period. Uniplan Investment Counsel Inc. boosted its stake in shares of Mistras Group by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 234,816 shares of the company’s stock worth $5,816,000 after buying an additional 717 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Mistras Group by 48.6% in the first quarter. TIAA CREF Investment Management LLC now owns 154,596 shares of the company’s stock worth $3,829,000 after buying an additional 50,537 shares during the period. Hedge funds and other institutional investors own 56.35% of the company’s stock.
Mistras Group Inc. (NYSE:MG) traded down 11.10% during trading on Friday, reaching $20.74. The company had a trading volume of 397,443 shares. The company has a market capitalization of $600.53 million, a PE ratio of 25.29 and a beta of 1.20. The firm’s 50 day moving average is $23.82 and its 200 day moving average is $24.47. Mistras Group Inc. has a one year low of $17.84 and a one year high of $26.47.
Mistras Group (NYSE:MG) last announced its quarterly earnings data on Thursday, October 6th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Mistras Group had a return on equity of 10.61% and a net margin of 3.43%. The business had revenue of $168.40 million for the quarter. During the same quarter in the previous year, the firm earned $0.23 earnings per share. Mistras Group’s revenue was down 6.4% on a year-over-year basis. On average, equities research analysts predict that Mistras Group Inc. will post $5.23 earnings per share for the current year.
MG has been the topic of a number of recent research reports. Robert W. Baird raised Mistras Group from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $27.00 to $28.00 in a report on Friday, August 12th. Zacks Investment Research lowered Mistras Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. TD Securities decreased their target price on Mistras Group from $51.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, July 11th. Finally, CIBC upped their target price on Mistras Group from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.75.
In other news, insider Dennis Bertolotti sold 21,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $24.97, for a total value of $524,370.00. Following the transaction, the insider now directly owns 101,062 shares in the company, valued at $2,523,518.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 45.60% of the stock is owned by insiders.
Mistras Group Company Profile
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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