Ameriprise Financial Inc. Grows Stock Position in Mistras Group, Inc. (NYSE:MG)

Ameriprise Financial Inc. boosted its position in shares of Mistras Group, Inc. (NYSE:MG - Free Report) by 225.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 160,087 shares of the technology company's stock after buying an additional 110,916 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.52% of Mistras Group worth $1,450,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MG. Voya Investment Management LLC acquired a new stake in shares of Mistras Group in the fourth quarter valued at about $124,000. Dimensional Fund Advisors LP lifted its stake in Mistras Group by 7.6% in 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 buying an additional 102,665 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Mistras Group by 49.8% in the 4th quarter. JPMorgan Chase & Co. now owns 93,667 shares of the technology company's stock worth $849,000 after buying an additional 31,155 shares during the last quarter. Empowered Funds LLC increased its stake in Mistras Group by 5.1% during the 4th quarter. Empowered Funds LLC now owns 203,302 shares of the technology company's stock worth $1,842,000 after buying an additional 9,788 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Mistras Group by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 63,851 shares of the technology company's stock worth $578,000 after buying an additional 2,033 shares in the last quarter. Hedge funds and other institutional investors own 74.92% of the company's stock.

Insider Buying and Selling

In other Mistras Group news, Director Nicholas Debenedictis purchased 10,000 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was bought at an average cost of $9.84 per share, with a total value of $98,400.00. Following the acquisition, the director now directly owns 217,511 shares of the company's stock, valued at approximately $2,140,308.24. This represents a 4.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Mistras Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th.

Mistras Group Price Performance

Shares of Mistras Group stock traded up $0.08 during trading hours on Wednesday, reaching $7.63. 171,234 shares of the company's stock were exchanged, compared to its average volume of 138,076. The business has a fifty day moving average of $8.77 and a two-hundred day moving average of $9.29. The company has a market capitalization of $239.05 million, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 0.73 and a beta of 1.42. The company has a quick ratio of 1.55, a current ratio of 1.68 and a debt-to-equity ratio of 0.93. Mistras Group, Inc. has a 1 year low of $7.06 and a 1 year high of $12.44.

Mistras Group (NYSE:MG - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.17). The company had revenue of $161.62 million for the quarter, compared to analyst estimates of $180.70 million. Mistras Group had a return on equity of 9.32% and a net margin of 1.52%. As a group, research analysts predict that Mistras Group, Inc. will post 0.71 earnings per share for the current fiscal year.

About Mistras Group

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.