Insider Buying: Matrix Service (NASDAQ:MTRX) Director Purchases 2,300 Shares of Stock

Key Points

• Matrix Service Director John Chandler purchased 2,300 shares of the company's stock at an average price of $12.74 per share, increasing his ownership by 3.04%.
• The company reported an EPS of -$0.28 in its latest earnings, missing estimates significantly and showcasing a negative return on equity of 17.21%.
• Institutional ownership stands at 78.38%, with several hedge funds increasing their stakes in the company during the fourth quarter.

Matrix Service Company (NASDAQ:MTRX - Get Free Report) Director John D. Chandler purchased 2,300 shares of Matrix Service stock in a transaction that occurred on Tuesday, September 16th. The stock was purchased at an average cost of $12.74 per share, for a total transaction of $29,302.00. Following the completion of the purchase, the director owned 78,053 shares of the company's stock, valued at $994,395.22. This trade represents a 3.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Matrix Service Trading Down 1.4%

MTRX stock traded down $0.18 during trading on Friday, reaching $12.82. The stock had a trading volume of 595,726 shares, compared to its average volume of 262,164. The stock's 50 day moving average is $14.49 and its two-hundred day moving average is $13.04. Matrix Service Company has a 52 week low of $9.33 and a 52 week high of $16.10. The firm has a market cap of $353.97 million, a PE ratio of -12.21, a PEG ratio of 1.06 and a beta of 1.13.

Matrix Service (NASDAQ:MTRX - Get Free Report) last released its quarterly earnings results on Tuesday, September 9th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.30). Matrix Service had a negative net margin of 3.83% and a negative return on equity of 17.21%. The firm had revenue of $216.38 million for the quarter, compared to analysts' expectations of $232.25 million. During the same quarter in the prior year, the business earned ($0.14) EPS. Matrix Service has set its FY 2026 guidance at EPS. On average, research analysts anticipate that Matrix Service Company will post -0.26 EPS for the current year.

Institutional Trading of Matrix Service

Institutional investors have recently bought and sold shares of the business. Boston Partners increased its holdings in Matrix Service by 71.5% during the 2nd quarter. Boston Partners now owns 844,966 shares of the company's stock worth $11,417,000 after purchasing an additional 352,194 shares in the last quarter. American Century Companies Inc. raised its stake in Matrix Service by 24.1% in the 2nd quarter. American Century Companies Inc. now owns 671,398 shares of the company's stock worth $9,071,000 after purchasing an additional 130,489 shares in the last quarter. Azarias Capital Management L.P. raised its stake in Matrix Service by 9.9% in the 2nd quarter. Azarias Capital Management L.P. now owns 627,766 shares of the company's stock worth $8,481,000 after purchasing an additional 56,611 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Matrix Service by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 620,275 shares of the company's stock valued at $8,382,000 after buying an additional 3,358 shares in the last quarter. Finally, Gendell Jeffrey L increased its position in Matrix Service by 2.9% during the 2nd quarter. Gendell Jeffrey L now owns 614,409 shares of the company's stock worth $8,301,000 after purchasing an additional 17,291 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson dropped their price target on Matrix Service from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Matrix Service has a consensus rating of "Buy" and an average price target of $17.00.

About Matrix Service

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.