Matrix Service Co. (MTRX) Insider James P. Ryan Sells 10,000 Shares of Stock
Matrix Service Co. (NASDAQ:MTRX) insider James P. Ryan sold 10,000 shares of Matrix Service stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $19.59, for a total transaction of $195,900.00. Following the completion of the transaction, the insider now owns 77,528 shares of the company’s stock, valued at $1,518,773.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Matrix Service Co. (NASDAQ:MTRX) traded down 0.50% during trading on Tuesday, hitting $20.10. 3,753 shares of the company’s stock were exchanged. The company has a 50-day moving average of $18.55 and a 200-day moving average of $17.37. The company has a market cap of $533.31 million, a P/E ratio of 19.16 and a beta of 1.38. Matrix Service Co. has a 12-month low of $14.07 and a 12-month high of $23.55.
Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The business had revenue of $341 million for the quarter, compared to analyst estimates of $345.14 million. Matrix Service had a return on equity of 10.09% and a net margin of 2.12%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 EPS. On average, equities analysts expect that Matrix Service Co. will post $1.22 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Matrix Service during the third quarter worth approximately $105,000. Municipal Employees Retirement System of Michigan boosted its position in Matrix Service by 1.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,920 shares of the company’s stock valued at $111,000 after buying an additional 110 shares during the last quarter. BNP Paribas Arbitrage SA boosted 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 valued at $142,000 after buying an additional 4,168 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new position in Matrix Service during the second quarter valued at about $180,000. Finally, Springbank Value Partners LP boosted its position in Matrix Service by 900.0% in the third quarter. Springbank Value Partners LP now owns 10,000 shares of the company’s stock valued at $188,000 after buying an additional 9,000 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.
Several research analysts have weighed in on the stock. Avondale Partners downgraded shares of Matrix Service from a “market outperform” rating to a “market perform” rating in a research report on Friday. TheStreet cut shares of Matrix Service from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. Zacks Investment Research cut shares of Matrix Service from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 3rd. Finally, DA Davidson reissued 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 sell rating, two have assigned a hold rating and three have given a buy rating to the company. Matrix Service currently has a consensus rating of “Hold” and a consensus price target of $23.20.
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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