Royce & Associates LP Sells 126,915 Shares of Matrix Service Company (NASDAQ:MTRX)

Key Points

• Royce & Associates LP reduced its stake in Matrix Service Company by 14.1%, holding 771,207 shares valued at approximately $9.59 million after selling 126,915 shares in the 1st quarter.
• Matrix Service Company's stock saw a 2.1% increase, with a current price of $15.34 and a market capitalization of $423.54 million.
• The company reported a quarterly EPS of −$0.12, missing estimates, and had a revenue of $200.16 million, below expectations of $215.06 million.

Royce & Associates LP lowered its stake in shares of Matrix Service Company (NASDAQ:MTRX - Free Report) by 14.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 771,207 shares of the company's stock after selling 126,915 shares during the period. Royce & Associates LP owned approximately 2.79% of Matrix Service worth $9,586,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. ACK Asset Management LLC raised its holdings in shares of Matrix Service by 47.3% during the fourth quarter. ACK Asset Management LLC now owns 1,179,901 shares of the company's stock valued at $14,123,000 after purchasing an additional 378,901 shares during the period. Westerly Capital Management LLC raised its holdings in shares of Matrix Service by 4.5% during the fourth quarter. Westerly Capital Management LLC now owns 1,150,000 shares of the company's stock valued at $13,766,000 after purchasing an additional 50,000 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Matrix Service by 244.6% during the first quarter. Bank of New York Mellon Corp now owns 403,385 shares of the company's stock valued at $5,014,000 after purchasing an additional 286,326 shares during the period. American Century Companies Inc. raised its holdings in shares of Matrix Service by 523.3% during the fourth quarter. American Century Companies Inc. now owns 294,889 shares of the company's stock valued at $3,530,000 after purchasing an additional 247,578 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Matrix Service by 6.3% in the 4th quarter. Northern Trust Corp now owns 252,557 shares of the company's stock worth $3,023,000 after acquiring an additional 15,015 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Matrix Service Trading Up 2.1%

Shares of MTRX traded up $0.31 on Friday, reaching $15.34. The company's stock had a trading volume of 100,843 shares, compared to its average volume of 171,888. Matrix Service Company has a twelve month low of $8.65 and a twelve month high of $15.75. The stock has a market capitalization of $423.54 million, a PE ratio of -18.94, a PEG ratio of 1.53 and a beta of 1.05. The firm has a fifty day moving average of $13.17 and a 200-day moving average of $12.88.

Matrix Service (NASDAQ:MTRX - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). Matrix Service had a negative return on equity of 14.08% and a negative net margin of 3.04%. The business had revenue of $200.16 million during the quarter, compared to analyst estimates of $215.06 million. As a group, equities analysts anticipate that Matrix Service Company will post -0.26 EPS for the current fiscal year.

Matrix Service Company Profile

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.