Matrix Service Company $MTRX Shares Sold by First Wilshire Securities Management Inc.

First Wilshire Securities Management Inc. lowered its holdings in shares of Matrix Service Company (NASDAQ:MTRX) by 11.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 613,017 shares of the company’s stock after selling 79,860 shares during the period. Matrix Service comprises 1.8% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 19th largest holding. First Wilshire Securities Management Inc. owned approximately 2.18% of Matrix Service worth $7,172,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTRX. Westerly Capital Management LLC raised its position in Matrix Service by 34.1% during the third quarter. Westerly Capital Management LLC now owns 1,100,000 shares of the company’s stock worth $14,388,000 after acquiring an additional 280,000 shares during the last quarter. AQR Capital Management LLC raised its position 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 acquiring an additional 250,206 shares during the last quarter. CenterBook Partners LP raised its position in Matrix Service by 55.5% during the fourth quarter. CenterBook Partners LP now owns 634,046 shares of the company’s stock worth $7,418,000 after acquiring an additional 226,325 shares during the last quarter. Millennium Management LLC raised its position in Matrix Service by 46.5% during the third quarter. Millennium Management LLC now owns 630,396 shares of the company’s stock worth $8,246,000 after acquiring an additional 200,189 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in Matrix Service by 482.6% during the fourth quarter. GSA Capital Partners LLP now owns 212,213 shares of the company’s stock worth $2,483,000 after acquiring 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 related news, CEO John R. Hewitt sold 36,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $12.50, for a total transaction of $450,000.00. Following the completion of the transaction, the chief executive officer owned 581,806 shares of the company’s stock, valued at approximately $7,272,575. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.40% of the company’s stock.

Matrix Service Stock Performance

Shares of MTRX stock opened at $13.47 on Friday. Matrix Service Company has a one year low of $9.88 and a one year high of $16.10. The company has a 50 day moving average price of $12.63 and a 200 day moving average price of $12.16. The firm has a market capitalization of $378.91 million, a price-to-earnings ratio of -25.42, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $206.71 million during the quarter, compared to analyst estimates of $231.52 million. As a group, equities analysts forecast that Matrix Service Company will post 0.25 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Matrix Service in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Matrix Service presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Matrix Service 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.