Bank of New York Mellon Corp Buys 286,326 Shares of Matrix Service Company (NASDAQ:MTRX)

Bank of New York Mellon Corp lifted its holdings in shares of Matrix Service Company (NASDAQ:MTRX - Free Report) by 244.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 403,385 shares of the company's stock after acquiring an additional 286,326 shares during the period. Bank of New York Mellon Corp owned approximately 1.46% of Matrix Service worth $5,014,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MTRX. New York State Teachers Retirement System purchased a new position in Matrix Service during the first quarter worth about $30,000. Assenagon Asset Management S.A. boosted its holdings in Matrix Service by 25.2% during the first quarter. Assenagon Asset Management S.A. now owns 34,097 shares of the company's stock worth $424,000 after purchasing an additional 6,857 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Matrix Service by 40.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 16,252 shares of the company's stock worth $195,000 after purchasing an additional 4,644 shares during the last quarter. State of Wyoming boosted its holdings in Matrix Service by 557.4% during the fourth quarter. State of Wyoming now owns 35,224 shares of the company's stock worth $422,000 after purchasing an additional 29,866 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Matrix Service by 14.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 155,437 shares of the company's stock worth $1,861,000 after purchasing an additional 19,923 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

Matrix Service Stock Up 1.7%

Matrix Service stock traded up $0.26 during midday trading on Monday, hitting $15.60. 126,662 shares of the stock were exchanged, compared to its average volume of 148,222. Matrix Service Company has a 52-week low of $8.65 and a 52-week high of $15.75. The stock has a market capitalization of $430.72 million, a price-to-earnings ratio of -19.26, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. The business's 50-day moving average price is $13.22 and its 200-day moving average price is $12.91.

Matrix Service (NASDAQ:MTRX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The company 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 14.08% and a negative net margin of 3.04%. On average, sell-side analysts predict that Matrix Service Company will post -0.26 earnings per share for the current fiscal year.

About Matrix Service

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.