Royal Bank of Canada raised its holdings in shares of Mistras Group Inc (NYSE:MG) by 23.4% during the second quarter, HoldingsChannel.com reports. The firm owned 667,724 shares of the technology company’s stock after buying an additional 126,498 shares during the period. Royal Bank of Canada’s holdings in Mistras Group were worth $9,596,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. First Manhattan Co. bought a new position in shares of Mistras Group in the 2nd quarter worth about $528,000. Nuveen Asset Management LLC acquired a new stake in shares of Mistras Group during the second quarter worth approximately $1,870,000. Vanguard Group Inc. boosted its holdings in shares of Mistras Group by 1.2% during the second quarter. Vanguard Group Inc. now owns 1,537,586 shares of the technology company’s stock worth $22,094,000 after purchasing an additional 17,828 shares during the period. BlackRock Inc. boosted its holdings in shares of Mistras Group by 2.1% during the second quarter. BlackRock Inc. now owns 1,181,398 shares of the technology company’s stock worth $16,975,000 after purchasing an additional 24,039 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Mistras Group during the second quarter worth approximately $857,000. 58.58% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently weighed in on MG. ValuEngine raised shares of Mistras Group from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Credit Suisse Group began coverage on shares of Mistras Group in a research report on Thursday, June 27th. They set a “neutral” rating and a $55.00 price objective on the stock. TheStreet raised shares of Mistras Group from a “d+” rating to a “c-” rating in a research report on Wednesday, June 26th. Finally, Zacks Investment Research raised shares of Mistras Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $31.50.

Shares of MG opened at $13.53 on Wednesday. Mistras Group Inc has a twelve month low of $12.19 and a twelve month high of $20.51. The firm has a market cap of $405.17 million, a PE ratio of 24.60, a PEG ratio of 1.28 and a beta of 1.22. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.60 and a current ratio of 1.72. The firm’s 50 day moving average price is $15.25 and its 200 day moving average price is $14.49.

Mistras Group (NYSE:MG) last released its quarterly earnings results on Monday, August 5th. The technology company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. Mistras Group had a net margin of 0.01% and a return on equity of 4.13%. The company had revenue of $200.62 million for the quarter, compared to analyst estimates of $192.70 million. On average, sell-side analysts anticipate that Mistras Group Inc will post 0.65 earnings per share for the current fiscal year.

Mistras Group Company Profile

Mistras Group, Inc provides technology-enabled asset protection solutions worldwide. The company operates through three segments: Services, International, and Products and Systems. It offers traditional non-destructive testing, and inspection and testing program services; and engineering consulting services.

Featured Article: Investing strategies using the yield curve

Want to see what other hedge funds are holding MG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mistras Group Inc (NYSE:MG).

Institutional Ownership by Quarter for Mistras Group (NYSE:MG)

Receive News & Ratings for Mistras Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mistras Group and related companies with MarketBeat.com's FREE daily email newsletter.