First Wilshire Securities Management Inc. Sells 90,179 Shares of Matrix Service Company $MTRX

First Wilshire Securities Management Inc. lessened its position in shares of Matrix Service Company (NASDAQ:MTRX) by 14.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 522,838 shares of the company’s stock after selling 90,179 shares during the period. Matrix Service makes up about 1.4% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 23rd largest holding. First Wilshire Securities Management Inc. owned approximately 1.86% of Matrix Service worth $6,002,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MTRX. Westerly Capital Management LLC increased its stake in Matrix Service by 34.1% in the third quarter. Westerly Capital Management LLC now owns 1,100,000 shares of the company’s stock valued at $14,388,000 after acquiring an additional 280,000 shares during the last quarter. AQR Capital Management LLC lifted its stake in Matrix Service by 601.5% during the first quarter. AQR Capital Management LLC now owns 291,804 shares of the company’s stock worth $3,627,000 after purchasing an additional 250,206 shares during the last quarter. CenterBook Partners LP boosted its holdings in shares of Matrix Service by 55.5% in the 4th quarter. CenterBook Partners LP now owns 634,046 shares of the company’s stock valued at $7,418,000 after purchasing an additional 226,325 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Matrix Service by 46.5% in the 3rd quarter. Millennium Management LLC now owns 630,396 shares of the company’s stock valued at $8,246,000 after purchasing an additional 200,189 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of Matrix Service by 482.6% in the 4th quarter. GSA Capital Partners LLP now owns 212,213 shares of the company’s stock valued at $2,483,000 after purchasing an additional 175,788 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Insider Buying and Selling

In other Matrix Service news, CEO John R. Hewitt sold 36,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $12.50, for a total transaction of $450,000.00. Following the completion of the sale, the chief executive officer directly owned 581,806 shares in the company, valued at approximately $7,272,575. This trade represents a 5.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Matrix Service in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Matrix Service Trading Up 3.3%

Shares of MTRX opened at $12.51 on Wednesday. The stock’s 50-day moving average price is $13.05 and its two-hundred day moving average price is $12.41. Matrix Service Company has a 12 month low of $9.88 and a 12 month high of $16.10. The company has a market capitalization of $351.91 million, a PE ratio of -23.60, a PEG ratio of 0.97 and a beta of 0.98.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. Matrix Service had a negative net margin of 1.77% and a negative return on equity of 3.60%. The business had revenue of $206.71 million during the quarter, compared to the consensus estimate of $231.52 million. Equities research analysts predict that Matrix Service Company will post 0.25 EPS for the current fiscal year.

About Matrix Service

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.