BlackRock Inc. Invests $20.37 Million in Mistras Group Inc $MG

Key Points

• BlackRock acquired 1.17 million shares of Mistras Group in the second quarter, valued at approximately $20.37 million, giving it a 3.67% stake. Institutional investors collectively own 74.92% of the company.
• Analyst sentiment is generally positive, with two Buy ratings and one Hold rating, resulting in a consensus “Moderate Buy” rating and a $19.00 price target.
• Mistras Group reported quarterly earnings of $0.28 per share, beating estimates of $0.24, while revenue of $193.13 million also exceeded expectations. Shares opened at $19.39, up 4.5%, near their 52-week high of $20.20.

BlackRock Inc. bought 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 disclosure with the SEC. The fund bought 1,166,197 shares of the technology company's stock, valued at approximately $20,373,000. BlackRock Inc. owned 3.67% of Mistras Group as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. IES Holdings Inc. purchased a new position in shares of Mistras Group in the 4th quarter worth about $13,660,000. Deutsche Bank AG purchased a new stake in shares of Mistras Group during the second quarter worth about $6,804,000. Sei Investments Co. increased its holdings in Mistras Group by 249.4% during the 1st quarter. Sei Investments Co. now owns 204,840 shares of the technology company's stock valued at $3,028,000 after purchasing an additional 146,222 shares during the period. Millennium Management LLC lifted its stake in Mistras Group by 48.9% in the third quarter. Millennium Management LLC now owns 357,513 shares of the technology company's stock worth $3,518,000 after acquiring an additional 117,334 shares during the period. Finally, Inspire Investing LLC purchased a new stake in shares of Mistras Group in the 4th quarter worth about $1,286,000. Institutional investors and hedge funds own 74.92% of the company's stock.

Wall Street Analysts Forecast Growth

MG has been the topic of a number of recent research reports. Weiss Ratings raised shares of Mistras Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 25th. Wall Street Zen downgraded Mistras Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Finally, Zacks Research cut shares of Mistras Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Mistras Group Trading Up 4.5%

Shares of Mistras Group stock opened at $19.39 on Thursday. The company's fifty day simple moving average is $17.07 and its 200-day simple moving average is $16.78. Mistras Group Inc has a 1-year low of $9.35 and a 1-year high of $20.20. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.71 and a quick ratio of 1.58. The stock has a market capitalization of $617.64 million, a PE ratio of 23.36, a P/E/G ratio of 1.12 and a beta of 0.92.

Mistras Group (NYSE:MG - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The technology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04. Mistras Group had a return on equity of 14.66% and a net margin of 3.65%.The firm had revenue of $193.13 million for the quarter, compared to the consensus estimate of $189.66 million. As a group, equities analysts anticipate that Mistras Group Inc will post 1.04 earnings per share for the current year.

About Mistras Group

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.

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