Matrix Service Company $MTRX Shares Sold by Royce & Associates LP

Royce & Associates LP lowered its position in Matrix Service Company (NASDAQ:MTRX) by 22.1% during the third quarter, Holdings Channel.com reports. The fund owned 550,782 shares of the company’s stock after selling 156,525 shares during the quarter. Royce & Associates LP’s holdings in Matrix Service were worth $7,204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in shares of Matrix Service by 601.5% in the 1st quarter. AQR Capital Management LLC now owns 291,804 shares of the company’s stock worth $3,627,000 after purchasing an additional 250,206 shares during the period. Goldman Sachs Group Inc. raised its holdings in Matrix Service by 53.5% in the first quarter. Goldman Sachs Group Inc. now owns 175,736 shares of the company’s stock valued at $2,184,000 after buying an additional 61,246 shares during the period. Jane Street Group LLC lifted its position in Matrix Service by 89.8% during the first quarter. Jane Street Group LLC now owns 34,542 shares of the company’s stock valued at $429,000 after buying an additional 16,343 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Matrix Service during the second quarter worth approximately $183,000. Finally, Bank of New York Mellon Corp increased its position in shares of Matrix Service by 15.9% in the second quarter. Bank of New York Mellon Corp now owns 467,572 shares of the company’s stock worth $6,317,000 after acquiring an additional 64,187 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on MTRX. Northland Securities set a $24.00 target price on shares of Matrix Service in a report on Wednesday, February 11th. DA Davidson reissued a “buy” rating and issued a $17.00 price objective on shares of Matrix Service in a research report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Matrix Service in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Insider Transactions at Matrix Service

In other news, VP Nancy E. Austin sold 4,193 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $11.29, for a total transaction of $47,338.97. Following the completion of the sale, the vice president owned 106,138 shares of the company’s stock, valued at approximately $1,198,298.02. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.40% of the stock is owned by corporate insiders.

Matrix Service Price Performance

Matrix Service stock opened at $11.30 on Thursday. Matrix Service Company has a 12-month low of $9.33 and a 12-month high of $16.10. The company has a market capitalization of $317.87 million, a price-to-earnings ratio of -16.62, a price-to-earnings-growth ratio of 2.46 and a beta of 0.97. The firm’s fifty day moving average price is $12.33 and its 200 day moving average price is $12.81.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, February 4th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.06). Matrix Service had a negative net margin of 2.30% and a negative return on equity of 8.56%. The business had revenue of $210.51 million for the quarter, compared to analyst estimates of $215.42 million. Analysts forecast that Matrix Service Company will post -0.26 earnings per share for the current fiscal year.

About Matrix Service

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.