Systematic Financial Management LP raised its stake in Matrix Service Co. (NASDAQ:MTRX) by 8.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 99,975 shares of the company’s stock after buying an additional 7,685 shares during the period. Systematic Financial Management LP owned about 0.38% of Matrix Service worth $1,648,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Investment Counselors of Maryland LLC boosted its stake in shares of Matrix Service by 10.8% in the second quarter. Investment Counselors of Maryland LLC now owns 888,838 shares of the company’s stock valued at $14,657,000 after buying an additional 86,500 shares during the period. Tributary Capital Management LLC boosted its position in shares of Matrix Service by 12.0% in the second quarter. Tributary Capital Management LLC now owns 246,363 shares of the company’s stock valued at $4,063,000 after buying an additional 26,415 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Matrix Service by 22.7% in the second quarter. UBS Asset Management Americas Inc. now owns 20,000 shares of the company’s stock valued at $330,000 after buying an additional 3,700 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Matrix Service during the second quarter valued at $1,824,000. Finally, Ameriprise Financial Inc. boosted its position in shares of Matrix Service by 0.6% in the second quarter. Ameriprise Financial Inc. now owns 161,961 shares of the company’s stock valued at $2,670,000 after buying an additional 919 shares during the last quarter. 91.96% of the stock is currently owned by institutional investors.
Matrix Service Co. (NASDAQ:MTRX) opened at 18.13 on Friday. The firm has a 50-day moving average of $17.83 and a 200-day moving average of $17.28. The firm has a market cap of $480.81 million, a PE ratio of 16.94 and a beta of 1.66. Matrix Service Co. has a 52-week low of $14.07 and a 52-week high of $26.22.
Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Matrix Service had a return on equity of 10.47% and a net margin of 2.20%. The business earned $359.60 million during the quarter. During the same quarter in the prior year, the business earned $0.40 EPS. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities analysts anticipate that Matrix Service Co. will post $1.25 EPS for the current year.
MTRX has been the topic of several recent research reports. Barclays PLC lowered their price target on shares of Matrix Service from $41.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, June 6th. Zacks Investment Research raised shares of Matrix Service from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 13th. DA Davidson reissued a “buy” rating and set a $20.00 price target on shares of Matrix Service in a research report on Friday, August 26th. Finally, TheStreet raised shares of Matrix Service from a “hold” rating to a “buy” rating in a research report on Friday, September 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $24.33.
In related news, insider James P. Ryan sold 2,150 shares of Matrix Service stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $19.01, for a total transaction of $40,871.50. Following the completion of the sale, the insider now owns 91,907 shares in the company, valued at approximately $1,747,152.07. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John R. Hewitt sold 15,957 shares of Matrix Service stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $19.02, for a total value of $303,502.14. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.
About Matrix Service
Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s Electrical Infrastructure segment primarily provides construction and maintenance services to a range of power generation facilities, such as combined cycle plants and renewable energy installations.
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