Matrix Service Company $MTRX Shares Sold by Royce & Associates LP

Royce & Associates LP lowered its holdings in Matrix Service Company (NASDAQ:MTRX) by 22.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 550,782 shares of the company’s stock after selling 156,525 shares during the quarter. Royce & Associates LP owned 1.96% of Matrix Service worth $7,204,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MTRX. AQR Capital Management LLC lifted its stake in shares of Matrix Service by 601.5% in the first quarter. AQR Capital Management LLC now owns 291,804 shares of the company’s stock valued at $3,627,000 after purchasing an additional 250,206 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Matrix Service by 53.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 175,736 shares of the company’s stock valued at $2,184,000 after acquiring an additional 61,246 shares during the period. Jane Street Group LLC boosted its stake in shares of Matrix Service by 89.8% during the 1st quarter. Jane Street Group LLC now owns 34,542 shares of the company’s stock worth $429,000 after acquiring an additional 16,343 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Matrix Service in the 2nd quarter worth approximately $183,000. Finally, Bank of New York Mellon Corp raised its holdings in Matrix Service by 15.9% during the second quarter. Bank of New York Mellon Corp now owns 467,572 shares of the company’s stock worth $6,317,000 after purchasing an additional 64,187 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on MTRX. Weiss Ratings reissued a “sell (d-)” rating on shares of Matrix Service in a report on Thursday, January 22nd. Northland Securities set a $24.00 target price on shares of Matrix Service in a report on Wednesday, February 11th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $17.00 price target on shares of Matrix Service in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Insider Transactions at Matrix Service

In other news, VP Nancy E. Austin sold 4,193 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $11.29, for a total transaction of $47,338.97. Following the transaction, the vice president directly owned 106,138 shares in the company, valued at $1,198,298.02. This represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.40% of the company’s stock.

Matrix Service Price Performance

NASDAQ:MTRX opened at $11.30 on Thursday. Matrix Service Company has a 1-year low of $9.33 and a 1-year high of $16.10. The firm has a 50 day simple moving average of $12.33 and a 200-day simple moving average of $12.81. The firm has a market cap of $317.87 million, a PE ratio of -16.62, a P/E/G ratio of 2.46 and a beta of 0.97.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, February 4th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.06). Matrix Service had a negative return on equity of 8.56% and a negative net margin of 2.30%.The firm had revenue of $210.51 million during the quarter, compared to analysts’ expectations of $215.42 million. As a group, sell-side analysts expect that Matrix Service Company will post -0.26 earnings per share for the current fiscal year.

Matrix Service Company Profile

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.