22Nw LP raised its stake in shares of Matrix Service Company (NASDAQ:MTRX) by 41.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 166,600 shares of the oil and gas company’s stock after purchasing an additional 48,800 shares during the period. Matrix Service accounts for about 1.5% of 22Nw LP’s investment portfolio, making the stock its 19th biggest holding. 22Nw LP owned approximately 0.62% of Matrix Service worth $2,532,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Engine Capital Management LLC bought a new stake in Matrix Service during the second quarter valued at about $1,339,000. Wedbush Securities Inc. lifted its position in shares of Matrix Service by 132.5% in the second quarter. Wedbush Securities Inc. now owns 63,892 shares of the oil and gas company’s stock valued at $597,000 after acquiring an additional 36,411 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of 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 in the last quarter. ZPR Investment Management lifted its position in shares of 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 in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Matrix Service by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,406,068 shares of the oil and gas company’s stock valued at $23,200,000 after acquiring an additional 20,859 shares in the last quarter. 88.34% of the stock is owned by institutional investors and hedge funds.
Shares of Matrix Service Company (NASDAQ:MTRX) opened at $17.20 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.72 and a debt-to-equity ratio of 0.13. Matrix Service Company has a 52-week low of $7.80 and a 52-week high of $23.45.
Matrix Service (NASDAQ:MTRX) last posted its earnings results on Tuesday, November 7th. The oil and gas company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.08. The company had revenue of $269.91 million for the quarter, compared to the consensus estimate of $290.56 million. Matrix Service had a negative return on equity of 1.75% and a negative net margin of 0.51%. The firm’s revenue for the quarter was down 21.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share. equities analysts anticipate that Matrix Service Company will post 0.63 EPS for the current year.
MTRX has been the topic of several research analyst reports. KeyCorp restated a “hold” rating on shares of Matrix Service in a research report on Monday, August 28th. TheStreet upgraded Matrix Service from a “d+” rating to a “c-” rating in a research report on Monday, October 9th. BidaskClub downgraded Matrix Service from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Zacks Investment Research downgraded Matrix Service from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 14th. Finally, ValuEngine downgraded Matrix Service from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $18.00.
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.
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