Sei Investments Co. raised its position in shares of Matrix Service Company (NASDAQ:MTRX) by 57.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,035 shares of the oil and gas company’s stock after buying an additional 9,850 shares during the period. Sei Investments Co.’s holdings in Matrix Service Company were worth $446,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its position in Matrix Service Company by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the oil and gas company’s stock worth $178,000 after buying an additional 100 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Matrix Service Company by 6.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,300 shares of the oil and gas company’s stock worth $325,000 after buying an additional 810 shares during the last quarter. Amica Retiree Medical Trust raised its position in Matrix Service Company by 107.3% in the first quarter. Amica Retiree Medical Trust now owns 14,875 shares of the oil and gas company’s stock worth $245,000 after buying an additional 7,698 shares during the last quarter. Foundry Partners LLC raised its position in Matrix Service Company by 41.0% in the first quarter. Foundry Partners LLC now owns 16,665 shares of the oil and gas company’s stock worth $275,000 after buying an additional 4,845 shares during the last quarter. Finally, Eqis Capital Management Inc. raised its position in Matrix Service Company by 64.2% in the first quarter. Eqis Capital Management Inc. now owns 19,085 shares of the oil and gas company’s stock worth $315,000 after buying an additional 7,462 shares during the last quarter. 89.13% of the stock is owned by institutional investors and hedge funds.
Shares of Matrix Service Company (NASDAQ MTRX) opened at 8.15 on Friday. Matrix Service Company has a 52 week low of $8.00 and a 52 week high of $23.45. The firm’s 50-day moving average price is $9.04 and its 200 day moving average price is $16.36. The stock has a market capitalization of $216.79 million, a P/E ratio of 21.97 and a beta of 0.79.
Matrix Service Company (NASDAQ:MTRX) last released its quarterly earnings results on Tuesday, May 9th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.66. Matrix Service Company had a return on equity of 3.07% and a net margin of 0.78%. The firm had revenue of $251.20 million during the quarter, compared to analysts’ expectations of $248.51 million. During the same period in the prior year, the firm posted $0.16 earnings per share. Matrix Service Company’s revenue for the quarter was down 18.8% compared to the same quarter last year. Analysts expect that Matrix Service Company will post ($0.01) earnings per share for the current year.
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Several brokerages have recently issued reports on MTRX. Zacks Investment Research raised Matrix Service Company from a “sell” rating to a “hold” rating in a research report on Saturday, April 15th. Stephens reissued a “hold” rating on shares of Matrix Service Company in a research report on Monday, May 15th. ValuEngine lowered Matrix Service Company from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, TheStreet lowered Matrix Service Company from a “c-” rating to a “d+” rating in a research report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $20.00.
About Matrix Service Company
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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