First Wilshire Securities Management Inc. Has $6 Million Stake in Matrix Service Company $MTRX

First Wilshire Securities Management Inc. lowered its stake in Matrix Service Company (NASDAQ:MTRX) by 14.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 522,838 shares of the company’s stock after selling 90,179 shares during the quarter. Matrix Service accounts for approximately 1.4% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 23rd largest position. First Wilshire Securities Management Inc.’s holdings in Matrix Service were worth $6,002,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Matrix Service by 427.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 81,919 shares of the company’s stock valued at $963,000 after acquiring an additional 66,400 shares during the period. Strs Ohio grew its holdings in Matrix Service by 15.3% in the first quarter. Strs Ohio now owns 54,200 shares of the company’s stock worth $622,000 after purchasing an additional 7,200 shares during the period. Azarias Capital Management L.P. grew its holdings in Matrix Service by 11.8% in the first quarter. Azarias Capital Management L.P. now owns 817,021 shares of the company’s stock worth $9,379,000 after purchasing an additional 86,254 shares during the period. XTX Topco Ltd increased its stake in Matrix Service by 5.5% in the fourth quarter. XTX Topco Ltd now owns 48,808 shares of the company’s stock valued at $571,000 after purchasing an additional 2,549 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its holdings in shares of Matrix Service by 73.5% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 40,493 shares of the company’s stock valued at $474,000 after purchasing an additional 17,158 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Matrix Service Trading Up 3.3%

NASDAQ MTRX opened at $12.51 on Wednesday. The firm has a market capitalization of $351.91 million, a P/E ratio of -23.60, a PEG ratio of 0.97 and a beta of 0.98. The business has a fifty day simple moving average of $13.05 and a 200 day simple moving average of $12.41. Matrix Service Company has a 12 month low of $9.88 and a 12 month high of $16.10.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The firm had revenue of $206.71 million for the quarter, compared to the consensus estimate of $231.52 million. Matrix Service had a negative net margin of 1.77% and a negative return on equity of 3.60%. As a group, sell-side analysts predict that Matrix Service Company will post 0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Matrix Service in a research report on Friday. One research 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.50.

Insider Activity at Matrix Service

In related news, CEO John R. Hewitt sold 36,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $12.50, for a total transaction of $450,000.00. Following the transaction, the chief executive officer directly owned 581,806 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by corporate insiders.

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.