Dimensional Fund Advisors LP Decreases Position in Matrix Service (NASDAQ:MTRX)

Dimensional Fund Advisors LP decreased its position in shares of Matrix Service (NASDAQ:MTRX - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,072,362 shares of the company's stock after selling 83,785 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.89% of Matrix Service worth $12,836,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in Matrix Service during the fourth quarter worth approximately $45,000. Legal & General Group Plc increased its holdings in shares of Matrix Service by 29.6% during the 4th quarter. Legal & General Group Plc now owns 8,236 shares of the company's stock worth $99,000 after purchasing an additional 1,881 shares during the period. SG Americas Securities LLC lifted its holdings in Matrix Service by 18.4% in the fourth quarter. SG Americas Securities LLC now owns 11,123 shares of the company's stock valued at $133,000 after buying an additional 1,731 shares during the period. Martingale Asset Management L P bought a new position in Matrix Service in the 4th quarter valued at about $174,000. Finally, Wells Fargo & Company MN boosted its position in Matrix Service by 25.6% during the fourth quarter. Wells Fargo & Company MN now owns 16,569 shares of the company's stock valued at $198,000 after acquiring an additional 3,382 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on MTRX. StockNews.com cut shares of Matrix Service from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. DA Davidson upped their price target on Matrix Service from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th.

Matrix Service Price Performance

MTRX stock traded up $0.08 during trading on Tuesday, reaching $12.97. 167,554 shares of the company were exchanged, compared to its average volume of 210,766. Matrix Service has a twelve month low of $8.61 and a twelve month high of $15.75. The company has a 50-day moving average of $11.78 and a two-hundred day moving average of $12.67. The company has a market capitalization of $358.06 million, a price-to-earnings ratio of -10.63 and a beta of 1.04.

Matrix Service (NASDAQ:MTRX - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). The business had revenue of $200.16 million during the quarter, compared to the consensus estimate of $215.06 million. Matrix Service had a negative return on equity of 20.81% and a negative net margin of 4.76%. On average, analysts forecast that Matrix Service will post -0.26 EPS for the current year.

Matrix Service Profile

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.