Insider Selling: Matrix Service Co. (MTRX) CEO Sells 14,043 Shares of Stock
Matrix Service Co. (NASDAQ:MTRX) CEO John R. Hewitt sold 14,043 shares of the business’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $18.75, for a total value of $263,306.25. Following the sale, the chief executive officer now directly owns 231,147 shares of the company’s stock, valued at approximately $4,334,006.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
John R. Hewitt also recently made the following trade(s):
- On Monday, September 12th, John R. Hewitt sold 15,957 shares of Matrix Service stock. The shares were sold at an average price of $19.02, for a total value of $303,502.14.
Matrix Service Co. (NASDAQ:MTRX) opened at 18.93 on Tuesday. The company’s 50-day moving average price is $17.97 and its 200-day moving average price is $17.24. Matrix Service Co. has a 52 week low of $14.07 and a 52 week high of $26.22. The company has a market capitalization of $502.02 million, a price-to-earnings ratio of 17.69 and a beta of 1.52.
Matrix Service (NASDAQ:MTRX) last issued its earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.04. The company earned $359.60 million during the quarter. Matrix Service had a return on equity of 10.47% and a net margin of 2.20%. The business’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business earned $0.40 EPS. Equities analysts forecast that Matrix Service Co. will post $1.25 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of MTRX. BNP Paribas Arbitrage SA raised its position in Matrix Service by 93.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,641 shares of the company’s stock worth $142,000 after buying an additional 4,168 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new position in shares of Matrix Service during the second quarter valued at $180,000. BlackRock Inc. raised its position in shares of Matrix Service by 545.5% in the second quarter. BlackRock Inc. now owns 11,961 shares of the company’s stock valued at $197,000 after buying an additional 10,108 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Matrix Service by 5.2% in the second quarter. Thrivent Financial for Lutherans now owns 12,980 shares of the company’s stock valued at $214,000 after buying an additional 640 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Matrix Service by 0.7% in the second quarter. Arizona State Retirement System now owns 13,848 shares of the company’s stock valued at $228,000 after buying an additional 100 shares in the last quarter. Institutional investors own 91.96% of the company’s stock.
A number of research firms have recently weighed in on MTRX. Zacks Investment Research raised Matrix Service from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Barclays PLC dropped their price objective on Matrix Service from $41.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, June 6th. TheStreet raised Matrix Service from a “hold” rating to a “buy” rating in a research note on Friday, September 16th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Matrix Service in a research note on Friday, August 26th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $24.33.
About Matrix Service
Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s Electrical Infrastructure segment primarily provides construction and maintenance services to a range of power generation facilities, such as combined cycle plants and renewable energy installations.
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