Bank of New York Mellon Corp Raises Holdings in Matrix Service (NASDAQ:MTRX)

Bank of New York Mellon Corp boosted its stake in shares of Matrix Service (NASDAQ:MTRX) by 12.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 575,428 shares of the company’s stock after buying an additional 65,902 shares during the period. Bank of New York Mellon Corp owned 2.11% of Matrix Service worth $5,714,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Matrix Service by 1.0% during the first quarter. Vanguard Group Inc. now owns 1,223,781 shares of the company’s stock worth $15,946,000 after buying an additional 11,587 shares during the last quarter. Gendell Jeffrey L boosted its stake in Matrix Service by 5.8% during 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. Acadian Asset Management LLC boosted its stake in Matrix Service by 11.8% during the first quarter. Acadian Asset Management LLC now owns 421,808 shares of the company’s stock worth $5,494,000 after buying an additional 44,419 shares during the last quarter. Stanley Laman Group Ltd. boosted its stake in Matrix Service by 4.2% during the second quarter. Stanley Laman Group Ltd. now owns 326,621 shares of the company’s stock worth $3,243,000 after buying an additional 13,071 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in Matrix Service by 92.0% during the first quarter. Jane Street Group LLC now owns 308,743 shares of the company’s stock worth $4,023,000 after buying an additional 147,942 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Matrix Service Trading Up 0.6 %

MTRX opened at $10.67 on Friday. The stock’s 50-day moving average price is $9.69 and its 200 day moving average price is $10.98. Matrix Service has a 12-month low of $8.61 and a 12-month high of $13.90. The firm has a market cap of $291.39 million, a price-to-earnings ratio of -14.04, a PEG ratio of 2.81 and a beta of 1.24.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. DA Davidson reaffirmed a “buy” rating and issued a $18.00 price target on shares of Matrix Service in a research note on Tuesday. StockNews.com raised Matrix Service from a “hold” rating to a “buy” rating in a research note on Tuesday.

About Matrix Service

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.