Insider Selling: Matrix Service Co. (MTRX) CEO Sells $303,502.14 in Stock
Matrix Service Co. (NASDAQ:MTRX) 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Matrix Service Co. (NASDAQ:MTRX) opened at 18.13 on Tuesday. The stock has a 50 day moving average price of $17.66 and a 200-day moving average price of $17.27. The firm has a market capitalization of $480.81 million, a P/E 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 released its earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.04. Matrix Service had a net margin of 2.20% and a return on equity of 10.47%. The firm earned $359.60 million during the quarter. During the same quarter in the previous year, the business posted $0.40 earnings per share. Matrix Service’s revenue for the quarter was down 1.3% on a year-over-year basis. Analysts anticipate that Matrix Service Co. will post $1.26 EPS for the current fiscal year.
Several research analysts have commented on MTRX shares. TheStreet raised Matrix Service from a “hold” rating to a “buy” rating in a report on Friday. DA Davidson reaffirmed a “buy” rating and set a $20.00 target price on shares of Matrix Service in a report on Friday, August 26th. Zacks Investment Research raised Matrix Service from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, Barclays PLC cut their target price on Matrix Service from $41.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, June 6th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $24.33.
Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its position in Matrix Service by 93.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,641 shares of the company’s stock valued at $142,000 after buying an additional 4,168 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of Matrix Service during the second quarter valued at $180,000. BlackRock Inc. increased its stake in shares of Matrix Service by 545.5% in the second quarter. BlackRock Inc. now owns 11,961 shares of the company’s stock valued at $197,000 after buying an additional 10,108 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Matrix Service by 5.2% in the second quarter. Thrivent Financial for Lutherans now owns 12,980 shares of the company’s stock valued at $214,000 after buying an additional 640 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Matrix Service by 41.2% in the first quarter. Royal Bank of Canada now owns 13,737 shares of the company’s stock valued at $243,000 after buying an additional 4,007 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.
Matrix Service Company Profile
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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