Royce & Associates LP Grows Position in Matrix Service (NASDAQ:MTRX)

Royce & Associates LP raised its stake in shares of Matrix Service (NASDAQ:MTRX - Free Report) by 14.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 863,262 shares of the company's stock after buying an additional 107,820 shares during the period. Royce & Associates LP owned about 3.13% of Matrix Service worth $9,953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MTRX. Azarias Capital Management L.P. increased its position in Matrix Service by 28.5% during the second quarter. Azarias Capital Management L.P. now owns 1,273,193 shares of the company's stock valued at $12,643,000 after acquiring an additional 282,086 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Matrix Service by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,223,781 shares of the company's stock valued at $15,946,000 after purchasing an additional 11,587 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Matrix Service by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,172,616 shares of the company's stock worth $11,644,000 after purchasing an additional 3,215 shares during the period. Gendell Jeffrey L boosted its holdings in shares of Matrix Service by 5.8% in the first quarter. Gendell Jeffrey L now owns 870,556 shares of the company's stock worth $11,343,000 after buying an additional 48,000 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Matrix Service by 12.9% during the second quarter. Bank of New York Mellon Corp now owns 575,428 shares of the company's stock valued at $5,714,000 after buying an additional 65,902 shares during the period. 78.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MTRX. StockNews.com downgraded shares of Matrix Service from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. DA Davidson reiterated a "buy" rating and set a $18.00 target price on shares of Matrix Service in a research report on Thursday, September 26th.

Matrix Service Trading Down 2.3 %

NASDAQ MTRX traded down $0.30 on Friday, reaching $12.52. 86,221 shares of the stock were exchanged, compared to its average volume of 126,686. Matrix Service has a one year low of $8.61 and a one year high of $13.90. The firm has a market capitalization of $345.05 million, a PE ratio of -11.18 and a beta of 1.25. The company's 50-day simple moving average is $11.48 and its two-hundred day simple moving average is $10.69.

Matrix Service (NASDAQ:MTRX - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.01). The firm had revenue of $165.58 million for the quarter, compared to the consensus estimate of $183.90 million. Matrix Service had a negative net margin of 4.46% and a negative return on equity of 19.56%. During the same quarter in the previous year, the business earned ($0.21) earnings per share. Sell-side analysts forecast that Matrix Service will post -0.04 earnings per share for the current fiscal year.

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.