Invesco Ltd. Acquires 243,175 Shares of Mistras Group Inc $MG

Key Points

• Invesco Ltd. significantly increased its stake in Mistras Group Inc by 521.1% during the first quarter, owning nearly 0.93% of the company with a value of approximately $3.07 million by the end of the quarter.
• Other institutional investors have also raised their positions in Mistras Group, with hedge funds collectively owning 74.92% of the company's stock.
• Despite a recent earnings report exceeding expectations, Wall Street analysts have downgraded Mistras Group’s rating from "buy" to "hold."

Invesco Ltd. grew its holdings in shares of Mistras Group Inc (NYSE:MG - Free Report) by 521.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 289,838 shares of the technology company's stock after purchasing an additional 243,175 shares during the quarter. Invesco Ltd. owned approximately 0.93% of Mistras Group worth $3,066,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MG. Acuitas Investments LLC increased its position in shares of Mistras Group by 45.1% during the 1st quarter. Acuitas Investments LLC now owns 424,062 shares of the technology company's stock valued at $4,487,000 after purchasing an additional 131,798 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Mistras Group by 225.6% during the 4th quarter. Ameriprise Financial Inc. now owns 160,087 shares of the technology company's stock valued at $1,450,000 after purchasing an additional 110,916 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Mistras Group by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,461,339 shares of the technology company's stock valued at $13,240,000 after purchasing an additional 102,665 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Mistras Group by 76.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 219,075 shares of the technology company's stock valued at $1,985,000 after purchasing an additional 94,984 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new stake in Mistras Group in the 4th quarter worth about $274,000. 74.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Mistras Group from a "buy" rating to a "hold" rating in a report on Sunday, August 17th.

Mistras Group Price Performance

MG stock traded up $0.32 during mid-day trading on Thursday, reaching $9.78. 113,022 shares of the company traded hands, compared to its average volume of 128,144. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.54. The company has a market capitalization of $308.30 million, a P/E ratio of 26.42, a P/E/G ratio of 0.88 and a beta of 1.33. Mistras Group Inc has a 52-week low of $7.06 and a 52-week high of $12.44. The company has a fifty day moving average price of $8.58 and a 200-day moving average price of $8.83.

Mistras Group (NYSE:MG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The technology company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. The business had revenue of $185.41 million during the quarter, compared to analyst estimates of $186.43 million. Mistras Group had a return on equity of 9.37% and a net margin of 1.64%. As a group, analysts anticipate that Mistras Group Inc will post 0.71 earnings per share for the current year.

Mistras Group Company Profile

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.