Matrix Service Company $MTRX Shares Sold by First Wilshire Securities Management Inc.

First Wilshire Securities Management Inc. decreased its stake in shares of Matrix Service Company (NASDAQ:MTRX) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 613,017 shares of the company’s stock after selling 79,860 shares during the period. Matrix Service accounts for 1.8% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 19th largest position. First Wilshire Securities Management Inc.’s holdings in Matrix Service were worth $7,172,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new position in Matrix Service during the third quarter worth approximately $28,000. BNP Paribas Financial Markets grew its stake in Matrix Service by 68.9% during the second quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock worth $34,000 after buying an additional 1,032 shares during the period. Tower Research Capital LLC TRC grew its stake in Matrix Service by 133.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after buying an additional 1,893 shares during the period. Aquatic Capital Management LLC purchased a new stake in Matrix Service during the third quarter worth approximately $67,000. Finally, Daytona Street Capital LLC purchased a new stake in Matrix Service during the fourth quarter worth approximately $78,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Insider Buying and Selling at Matrix Service

In other news, CEO John R. Hewitt sold 36,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $12.50, for a total value of $450,000.00. Following the completion of the transaction, the chief executive officer directly owned 581,806 shares in the company, valued at approximately $7,272,575. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.40% of the company’s stock.

Matrix Service Trading Up 4.5%

Shares of MTRX stock opened at $13.47 on Friday. The company has a market capitalization of $378.91 million, a PE ratio of -25.42, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99. The firm has a fifty day simple moving average of $12.63 and a 200-day simple moving average of $12.16. Matrix Service Company has a twelve month low of $9.88 and a twelve month high of $16.10.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. The business had revenue of $206.71 million during the quarter, compared to the consensus estimate of $231.52 million. Matrix Service had a negative net margin of 1.77% and a negative return on equity of 3.60%. Equities research analysts predict that Matrix Service Company will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Matrix Service in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.50.

About Matrix Service

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.