First Wilshire Securities Management Inc. Sells 22,844 Shares of Matrix Service (NASDAQ:MTRX)

First Wilshire Securities Management Inc. cut its stake in Matrix Service (NASDAQ:MTRX - Free Report) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,346,563 shares of the company's stock after selling 22,844 shares during the period. Matrix Service accounts for 4.3% of First Wilshire Securities Management Inc.'s portfolio, making the stock its 5th largest position. First Wilshire Securities Management Inc. owned approximately 4.89% of Matrix Service worth $16,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Harvey Partners LLC grew its position in shares of Matrix Service by 8.2% in the 3rd quarter. Harvey Partners LLC now owns 1,515,000 shares of the company's stock worth $17,468,000 after acquiring an additional 115,000 shares in the last quarter. Needham Investment Management LLC boosted its holdings in Matrix Service by 38.5% in the third quarter. Needham Investment Management LLC now owns 1,420,000 shares of the company's stock worth $16,373,000 after purchasing an additional 395,000 shares during the period. Royce & Associates LP increased its stake in Matrix Service by 4.0% during the fourth quarter. Royce & Associates LP now owns 898,122 shares of the company's stock valued at $10,751,000 after purchasing an additional 34,860 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Matrix Service by 0.8% during the third quarter. Geode Capital Management LLC now owns 598,103 shares of the company's stock worth $6,898,000 after purchasing an additional 4,709 shares during the period. Finally, Portolan Capital Management LLC lifted its position in shares of Matrix Service by 34.3% in the 3rd quarter. Portolan Capital Management LLC now owns 509,059 shares of the company's stock worth $5,869,000 after buying an additional 129,989 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Matrix Service Stock Down 9.9 %

MTRX stock traded down $1.10 during mid-day trading on Friday, reaching $10.05. The company had a trading volume of 340,702 shares, compared to its average volume of 208,033. Matrix Service has a one year low of $8.61 and a one year high of $15.75. The stock has a market capitalization of $277.45 million, a P/E ratio of -8.24 and a beta of 1.01. The stock's 50-day simple moving average is $13.23 and its two-hundred day simple moving average is $12.69.

Matrix Service (NASDAQ:MTRX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. On average, research analysts forecast that Matrix Service will post -0.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MTRX shares. DA Davidson boosted their price objective on shares of Matrix Service from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. StockNews.com lowered Matrix Service from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th.

Matrix Service Profile

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.