Emerald Acquisition Ltd. Purchases New Position in Mistras Group Inc. (MG)
Emerald Acquisition Ltd. purchased a new stake in shares of Mistras Group Inc. (NYSE:MG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 55,255 shares of the company’s stock, valued at approximately $1,318,000. Emerald Acquisition Ltd. owned approximately 0.19% of Mistras Group at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in MG. California State Teachers Retirement System boosted its stake in shares of Mistras Group by 1.3% in the second quarter. California State Teachers Retirement System now owns 35,969 shares of the company’s stock valued at $859,000 after buying an additional 457 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Mistras Group by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 78,958 shares of the company’s stock valued at $1,885,000 after buying an additional 1,155 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Mistras Group during the second quarter valued at $208,000. Strs Ohio boosted its stake in shares of Mistras Group by 81.1% in the second quarter. Strs Ohio now owns 9,600 shares of the company’s stock valued at $229,000 after buying an additional 4,300 shares during the last quarter. Finally, Shell Asset Management Co. purchased a new stake in shares of Mistras Group during the second quarter valued at $590,000. 56.35% of the stock is owned by institutional investors and hedge funds.
Shares of Mistras Group Inc. (NYSE:MG) traded up 1.359% on Thursday, reaching $23.566. 63,000 shares of the company were exchanged. The company has a market capitalization of $682.35 million, a price-to-earnings ratio of 28.739 and a beta of 1.20. Mistras Group Inc. has a 52 week low of $16.50 and a 52 week high of $26.47. The company’s 50-day moving average is $23.85 and its 200-day moving average is $24.47.
Mistras Group (NYSE:MG) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. Mistras Group had a return on equity of 10.61% and a net margin of 3.43%. The business had revenue of $184.20 million for the quarter, compared to analyst estimates of $177.59 million. During the same quarter in the previous year, the firm earned $0.20 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities analysts expect that Mistras Group Inc. will post $1.01 EPS for the current fiscal year.
Several equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of Mistras Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Robert W. Baird raised shares of Mistras Group from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $27.00 to $28.00 in a research report on Friday, August 12th. CIBC raised their target price on shares of Mistras Group from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 9th. Finally, TD Securities dropped their target price on shares of Mistras Group from $51.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, July 11th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $37.93.
In other news, insider Dennis Bertolotti sold 21,000 shares of Mistras Group stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $24.97, for a total transaction of $524,370.00. Following the transaction, the insider now owns 101,062 shares in the company, valued at approximately $2,523,518.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 45.60% of the company’s stock.
About Mistras Group
Mistras Group, Inc is a provider of asset protection solutions. The Company offers one source for asset protection solutions to its customers. The Company has three segments: Services, Products and Systems, and International. The Company’s Services segment provides asset protection solutions consisting primarily of non-destructive testing and inspection, and engineering services that are used to evaluate the structural integrity and reliability of energy, industrial and public infrastructure.
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