Smith Graham & Co. Investment Advisors LP Increases Stake in Matrix Service Co (MTRX)

Smith Graham & Co. Investment Advisors LP lifted its holdings in shares of Matrix Service Co (NASDAQ:MTRX) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 913,271 shares of the oil and gas company’s stock after purchasing an additional 17,910 shares during the period. Matrix Service makes up 1.5% of Smith Graham & Co. Investment Advisors LP’s holdings, making the stock its 4th largest holding. Smith Graham & Co. Investment Advisors LP’s holdings in Matrix Service were worth $16,256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Engine Capital Management LLC bought a new position in Matrix Service in the second quarter valued at approximately $1,339,000. 22NW LP increased its stake in Matrix Service by 41.4% in the third quarter. 22NW LP now owns 166,600 shares of the oil and gas company’s stock valued at $2,532,000 after acquiring an additional 48,800 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Matrix Service by 38.3% in the second quarter. Ameriprise Financial Inc. now owns 470,885 shares of the oil and gas company’s stock valued at $4,401,000 after acquiring an additional 130,390 shares during the last quarter. Royce & Associates LP increased its stake in Matrix Service by 0.9% in the third quarter. Royce & Associates LP now owns 1,021,428 shares of the oil and gas company’s stock valued at $15,526,000 after acquiring an additional 8,700 shares during the last quarter. Finally, ZPR Investment Management increased its stake in Matrix Service by 65.5% in the second quarter. ZPR Investment Management now owns 134,505 shares of the oil and gas company’s stock valued at $1,258,000 after acquiring an additional 53,210 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors.

In other Matrix Service news, CEO John R. Hewitt sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $17.66, for a total value of $88,300.00. Following the sale, the chief executive officer now owns 283,529 shares in the company, valued at $5,007,122.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.50% of the company’s stock.

Shares of Matrix Service Co (MTRX) traded down $0.15 during trading on Monday, reaching $19.35. 114,700 shares of the company’s stock were exchanged, compared to its average volume of 215,023. Matrix Service Co has a 1 year low of $7.80 and a 1 year high of $23.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.74 and a quick ratio of 1.72. The firm has a market capitalization of $517.58, a price-to-earnings ratio of -87.95 and a beta of 0.85.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Tuesday, November 7th. The oil and gas company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.08. Matrix Service had a negative net margin of 0.51% and a negative return on equity of 1.75%. The firm had revenue of $269.91 million for the quarter, compared to analyst estimates of $290.56 million. During the same quarter last year, the business posted $0.35 earnings per share. The company’s quarterly revenue was down 21.0% on a year-over-year basis. research analysts expect that Matrix Service Co will post 0.69 earnings per share for the current year.

MTRX has been the topic of a number of recent analyst reports. BidaskClub cut shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 6th. TheStreet raised shares of Matrix Service from a “d+” rating to a “c-” rating in a research note on Monday, October 9th. Finally, Zacks Investment Research raised shares of Matrix Service from a “sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research note on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.00.

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Matrix Service Profile

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.

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

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