Bank of New York Mellon Corp Buys Shares of 79,219 Mistras Group Inc $MG

Bank of New York Mellon Corp purchased a new position in shares of Mistras Group Inc (NYSE:MG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 79,219 shares of the technology company's stock, valued at approximately $1,384,000. Bank of New York Mellon Corp owned about 0.25% of Mistras Group as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Wyoming bought a new stake in Mistras Group during the second quarter valued at $71,000. BNP Paribas Financial Markets boosted its position in shares of Mistras Group by 22.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,417 shares of the technology company's stock valued at $73,000 after purchasing an additional 1,360 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Mistras Group during the 4th quarter valued at about $74,000. MetLife Investment Management LLC grew its stake in Mistras Group by 17.8% during the fourth quarter. MetLife Investment Management LLC now owns 7,035 shares of the technology company's stock worth $89,000 after purchasing an additional 1,065 shares during the period. Finally, Raymond James Financial Inc. grew its stake in Mistras Group by 18.2% during the second quarter. Raymond James Financial Inc. now owns 14,173 shares of the technology company's stock worth $114,000 after purchasing an additional 2,183 shares during the period. Institutional investors and hedge funds own 74.92% of the company's stock.

Mistras Group Stock Up 2.6%

Shares of NYSE:MG opened at $19.93 on Thursday. The stock has a market cap of $634.77 million, a price-to-earnings ratio of 24.01, a PEG ratio of 1.17 and a beta of 0.92. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.75. Mistras Group Inc has a 12-month low of $9.35 and a 12-month high of $20.20. The business's 50 day moving average is $17.19 and its 200 day moving average is $16.95.

Mistras Group (NYSE:MG - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The technology company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.04. The business had revenue of $193.13 million during the quarter, compared to analyst estimates of $189.66 million. Mistras Group had a return on equity of 14.66% and a net margin of 3.65%. On average, sell-side analysts forecast that Mistras Group Inc will post 1.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on MG shares. Weiss Ratings upgraded shares of Mistras Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 25th. Wall Street Zen lowered shares of Mistras Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $19.00.

Mistras Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.