Russell Investments Group Ltd. Increases Stake in Matrix Service Company $MTRX

Key Points

• Russell Investments Group Ltd. increased its stake in Matrix Service Company (MTRX) by 28.2%, owning 315,273 shares worth approximately $3.92 million after acquiring 69,445 additional shares in the first quarter.
• Institutional ownership of Matrix Service is high, with financial firms like JPMorgan Chase, Wells Fargo, and Legal & General significantly increasing their stakes recently.
• Matrix Service stock opened at $15.36 and has seen a one-year price range from $9.14 to $16.10, with a market capitalization of approximately $424.09 million.

Russell Investments Group Ltd. lifted its stake in shares of Matrix Service Company (NASDAQ:MTRX - Free Report) by 28.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 315,273 shares of the company's stock after buying an additional 69,445 shares during the quarter. Russell Investments Group Ltd. owned about 1.14% of Matrix Service worth $3,919,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Informed Momentum Co LLC purchased a new stake in shares of Matrix Service during the 1st quarter worth approximately $824,000. Nuveen LLC acquired a new position in shares of Matrix Service during the 1st quarter worth $618,000. CenterBook Partners LP grew its stake in shares of Matrix Service by 789.6% during the 1st quarter. CenterBook Partners LP now owns 536,447 shares of the company's stock worth $6,668,000 after purchasing an additional 476,148 shares during the period. Cary Street Partners Financial LLC acquired a new position in shares of Matrix Service during the 1st quarter worth $914,000. Finally, De Lisle Partners LLP grew its stake in shares of Matrix Service by 28.9% during the 1st quarter. De Lisle Partners LLP now owns 237,935 shares of the company's stock worth $2,961,000 after purchasing an additional 53,343 shares during the period. Hedge funds and other institutional investors own 78.38% of the company's stock.

Matrix Service Trading Up 1.9%

Shares of Matrix Service stock traded up $0.29 during mid-day trading on Thursday, hitting $15.66. 20,466 shares of the stock were exchanged, compared to its average volume of 191,336. Matrix Service Company has a twelve month low of $9.14 and a twelve month high of $16.10. The stock has a market capitalization of $432.23 million, a price-to-earnings ratio of -19.24, a price-to-earnings-growth ratio of 1.52 and a beta of 1.12. The company has a 50-day simple moving average of $14.36 and a 200 day simple moving average of $13.05.

Matrix Service 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.