American International Group Inc. Has $270,000 Stake in Matrix Service Company (MTRX)

American International Group Inc. reduced its position in Matrix Service Company (NASDAQ:MTRX) by 16.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,370 shares of the oil and gas company’s stock after selling 3,108 shares during the period. American International Group Inc. owned about 0.06% of Matrix Service worth $270,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MTRX. LSV Asset Management raised its position in shares of Matrix Service by 0.4% in the first quarter. LSV Asset Management now owns 1,816,075 shares of the oil and gas company’s stock worth $29,965,000 after buying an additional 7,325 shares during the period. State Street Corp increased its stake in Matrix Service by 8.8% in the fourth quarter. State Street Corp now owns 747,989 shares of the oil and gas company’s stock worth $16,978,000 after buying an additional 60,527 shares in the last quarter. Boston Partners increased its stake in Matrix Service by 48.1% in the first quarter. Boston Partners now owns 561,030 shares of the oil and gas company’s stock worth $9,257,000 after buying an additional 182,130 shares in the last quarter. Norges Bank purchased a new stake in Matrix Service during the fourth quarter worth about $11,799,000. Finally, American Century Companies Inc. increased its stake in Matrix Service by 62.7% in the first quarter. American Century Companies Inc. now owns 495,817 shares of the oil and gas company’s stock worth $8,181,000 after buying an additional 191,119 shares in the last quarter. 84.95% of the stock is owned by institutional investors and hedge funds.

Matrix Service Company (NASDAQ MTRX) traded up 1.03% during midday trading on Friday, reaching $9.80. The company’s stock had a trading volume of 192,001 shares. The firm has a market capitalization of $260.68 million, a PE ratio of 26.42 and a beta of 0.75. Matrix Service Company has a 1-year low of $7.80 and a 1-year high of $23.45. The stock’s 50-day moving average price is $9.81 and its 200 day moving average price is $12.73.

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MTRX has been the subject of several recent analyst reports. TheStreet downgraded Matrix Service from a “c-” rating to a “d+” rating in a research note on Wednesday, May 24th. Zacks Investment Research upgraded Matrix Service from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine lowered Matrix Service from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded Matrix Service from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, Stephens reiterated a “hold” rating on shares of Matrix Service in a research note on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.00.

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 segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.

Institutional Ownership by Quarter for Matrix Service (NASDAQ:MTRX)

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