Lazard Asset Management LLC Purchases Shares of 70,369 Mistras Group Inc $MG

Lazard Asset Management LLC acquired a new position in Mistras Group Inc (NYSE:MG) in the 1st quarter, HoldingsChannel reports. The firm acquired 70,369 shares of the technology company’s stock, valued at approximately $1,040,000.

Other hedge funds have also recently made changes to their positions in the company. Torren Management LLC bought a new position in shares of Mistras Group during the fourth quarter valued at approximately $28,000. BNP Paribas Financial Markets boosted its holdings in Mistras Group by 22.5% in the third quarter. BNP Paribas Financial Markets now owns 7,417 shares of the technology company’s stock valued at $73,000 after acquiring an additional 1,360 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in Mistras Group in the fourth quarter valued at $74,000. MetLife Investment Management LLC increased its position in Mistras Group by 17.8% during the 4th quarter. MetLife Investment Management LLC now owns 7,035 shares of the technology company’s stock valued at $89,000 after purchasing an additional 1,065 shares during the period. Finally, Raymond James Financial Inc. increased its position in Mistras Group by 18.2% during the 2nd quarter. Raymond James Financial Inc. now owns 14,173 shares of the technology company’s stock valued at $114,000 after purchasing an additional 2,183 shares during the period. 74.92% of the stock is owned by hedge funds and other institutional investors.

Mistras Group Price Performance

Shares of MG stock opened at $15.81 on Thursday. The stock has a market cap of $502.95 million, a price-to-earnings ratio of 22.58, a PEG ratio of 0.95 and a beta of 0.89. The business’s fifty day moving average is $17.06 and its 200 day moving average is $16.22. Mistras Group Inc has a twelve month low of $7.81 and a twelve month high of $19.64. The company has a quick ratio of 1.67, a current ratio of 1.81 and a debt-to-equity ratio of 0.80.

Mistras Group (NYSE:MG) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $169.03 million during the quarter, compared to the consensus estimate of $164.25 million. Mistras Group had a return on equity of 13.60% and a net margin of 3.06%. Research analysts expect that Mistras Group Inc will post 1.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mistras Group in a research report on Friday, July 17th. Roth Capital initiated coverage on shares of Mistras Group in a research report on Thursday, April 30th. They set a “buy” rating and a $22.00 price target on the stock. Wall Street Zen raised shares of Mistras Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Finally, Zacks Research lowered shares of Mistras Group from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.00.

Mistras Group Company Profile

Mistras Group, Inc is a global provider of technology-enabled asset protection solutions and services, with a primary focus on nondestructive testing (NDT), inspection, and monitoring of critical infrastructure and industrial assets. The company’s offerings span a wide range of techniques—such as ultrasonic testing, eddy current detection, magnetic particle inspection, radiography and acoustic emission—to help clients in energy, petrochemical, aerospace, manufacturing and other sectors identify and address potential failures before they occur.

In addition to traditional NDT services, Mistras delivers engineered materials solutions, including composite repairs and specialty coatings, along with predictive maintenance and condition monitoring programs.