Matrix Service Company $MTRX is Azarias Capital Management L.P.’s 5th Largest Position

Azarias Capital Management L.P. boosted its position in shares of Matrix Service Company (NASDAQ:MTRX) by 11.8% during the first quarter, Holdings Channel.com reports. The fund owned 817,021 shares of the company’s stock after acquiring an additional 86,254 shares during the quarter. Matrix Service accounts for 4.2% of Azarias Capital Management L.P.’s investment portfolio, making the stock its 5th largest holding. Azarias Capital Management L.P.’s holdings in Matrix Service were worth $9,379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sei Investments Co. lifted its stake in shares of Matrix Service by 7.2% during the 2nd quarter. Sei Investments Co. now owns 15,170 shares of the company’s stock valued at $205,000 after buying an additional 1,025 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Matrix Service by 68.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock worth $34,000 after buying an additional 1,032 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in Matrix Service by 4.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 37,305 shares of the company’s stock valued at $436,000 after acquiring an additional 1,670 shares during the period. Strs Ohio raised its holdings in Matrix Service by 3.8% during the fourth quarter. Strs Ohio now owns 47,000 shares of the company’s stock valued at $550,000 after acquiring an additional 1,700 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Matrix Service by 133.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after acquiring an additional 1,893 shares during the period. 78.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Matrix Service news, CEO John R. Hewitt sold 36,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $12.50, for a total value of $450,000.00. Following the sale, the chief executive officer owned 581,806 shares in the company, valued at $7,272,575. This trade represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.40% of the stock is owned by company insiders.

Matrix Service Price Performance

Shares of NASDAQ MTRX opened at $13.99 on Monday. Matrix Service Company has a 1 year low of $9.88 and a 1 year high of $16.10. The firm has a 50-day simple moving average of $12.87 and a two-hundred day simple moving average of $12.25. The company has a market cap of $393.68 million, a P/E ratio of -26.41, a PEG ratio of 3.11 and a beta of 0.99.

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