Matrix Service (NASDAQ:MTRX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in shares of Matrix Service (NASDAQ:MTRX) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 117,059 shares of the company’s stock after selling 11,038 shares during the quarter. Bank of New York Mellon Corp’s holdings in Matrix Service were worth $1,401,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Matrix Service in the 4th quarter valued at about $45,000. Quarry LP purchased a new stake in shares of Matrix Service in the 3rd quarter valued at about $53,000. BNP Paribas Financial Markets lifted its holdings in shares of Matrix Service by 112.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock valued at $106,000 after purchasing an additional 4,860 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Matrix Service by 18.4% in the 4th quarter. SG Americas Securities LLC now owns 11,123 shares of the company’s stock valued at $133,000 after purchasing an additional 1,731 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Matrix Service in the 3rd quarter valued at about $155,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on MTRX shares. StockNews.com downgraded Matrix Service from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. DA Davidson boosted their target price on Matrix Service from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, February 11th.

Matrix Service Stock Down 4.6 %

MTRX opened at $12.49 on Monday. The business has a 50 day moving average price of $13.64 and a two-hundred day moving average price of $12.57. The company has a market cap of $344.81 million, a PE ratio of -10.24 and a beta of 1.11. Matrix Service has a 52 week low of $8.61 and a 52 week high of $15.75.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.02. Matrix Service had a negative return on equity of 20.81% and a negative net margin of 4.76%. As a group, sell-side analysts expect that Matrix Service will post -0.26 EPS for the current fiscal year.

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.