Acadian Asset Management LLC boosted its position in shares of Matrix Service Co (NASDAQ:MTRX) by 95.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 128,204 shares of the oil and gas company’s stock after buying an additional 62,592 shares during the quarter. Acadian Asset Management LLC owned approximately 0.47% of Matrix Service worth $3,160,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position in Matrix Service by 5.1% during the second quarter. Legal & General Group Plc now owns 52,545 shares of the oil and gas company’s stock valued at $971,000 after buying an additional 2,542 shares during the period. Global X Management Co LLC grew its position in Matrix Service by 17.2% during the second quarter. Global X Management Co LLC now owns 18,158 shares of the oil and gas company’s stock valued at $333,000 after buying an additional 2,660 shares during the period. Public Employees Retirement System of Ohio grew its position in Matrix Service by 78.5% during the second quarter. Public Employees Retirement System of Ohio now owns 7,303 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 3,211 shares during the period. Meeder Asset Management Inc. grew its position in Matrix Service by 83.0% during the second quarter. Meeder Asset Management Inc. now owns 8,436 shares of the oil and gas company’s stock valued at $155,000 after buying an additional 3,825 shares during the period. Finally, Aperio Group LLC grew its position in Matrix Service by 12.0% during the second quarter. Aperio Group LLC now owns 44,945 shares of the oil and gas company’s stock valued at $825,000 after buying an additional 4,799 shares during the period. Institutional investors own 91.48% of the company’s stock.
MTRX opened at $21.63 on Friday. The firm has a market cap of $582.59 million, a price-to-earnings ratio of 144.20 and a beta of 1.01. Matrix Service Co has a 52-week low of $13.00 and a 52-week high of $25.75.
Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, November 7th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. The business had revenue of $318.50 million for the quarter, compared to the consensus estimate of $294.82 million. Matrix Service had a negative net margin of 1.05% and a positive return on equity of 1.58%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. As a group, equities research analysts predict that Matrix Service Co will post 1.01 EPS for the current year.
Several analysts recently commented on MTRX shares. BidaskClub lowered shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 19th. ValuEngine lowered shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research lowered shares of Matrix Service from a “hold” rating to a “strong sell” rating in a research report on Saturday, September 15th.
In other Matrix Service news, VP Kevin S. Cavanah sold 21,450 shares of the stock in a transaction on Friday, September 14th. The shares were sold at an average price of $25.40, for a total transaction of $544,830.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Joseph F. Montalbano sold 34,785 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $22.66, for a total transaction of $788,228.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 98,266 shares of company stock worth $2,369,773. Insiders own 1.90% of the company’s stock.
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Matrix Service Company Profile
Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants and natural gas fired power stations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and emergency and storm restoration services to investor owned utilities.
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