Stanley Laman Group Ltd. Has $3.87 Million Stake in Matrix Service (NASDAQ:MTRX)

Stanley Laman Group Ltd. boosted its stake in shares of Matrix Service (NASDAQ:MTRX) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 335,444 shares of the company’s stock after buying an additional 8,823 shares during the quarter. Stanley Laman Group Ltd. owned approximately 1.23% of Matrix Service worth $3,868,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MTRX. Keene & Associates Inc. lifted its stake in shares of Matrix Service by 4.3% in the second quarter. Keene & Associates Inc. now owns 54,055 shares of the company’s stock worth $537,000 after acquiring an additional 2,206 shares during the period. Victory Capital Management Inc. raised its holdings in Matrix Service by 4.3% during the 2nd quarter. Victory Capital Management Inc. now owns 69,600 shares of the company’s stock worth $691,000 after purchasing an additional 2,900 shares during the last quarter. Essex Investment Management Co. LLC raised its holdings in Matrix Service by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 205,561 shares of the company’s stock worth $2,678,000 after purchasing an additional 3,157 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Matrix Service by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,172,616 shares of the company’s stock worth $11,644,000 after purchasing an additional 3,215 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Matrix Service by 13.4% in the 2nd quarter. American Century Companies Inc. now owns 37,714 shares of the company’s stock valued at $374,000 after purchasing an additional 4,452 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Matrix Service Stock Performance

Shares of MTRX opened at $11.47 on Wednesday. The firm has a market cap of $313.23 million, a PE ratio of -15.09 and a beta of 1.26. Matrix Service has a 52-week low of $8.61 and a 52-week high of $13.90. The business’s 50 day moving average price is $10.63 and its two-hundred day moving average price is $10.67.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Monday, September 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. The company had revenue of $189.50 million for the quarter, compared to the consensus estimate of $215.61 million. Matrix Service had a negative net margin of 3.43% and a negative return on equity of 16.87%. Research analysts predict that Matrix Service will post -0.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. DA Davidson reissued a “buy” rating and set a $18.00 target price on shares of Matrix Service in a research note on Thursday, September 26th. StockNews.com raised Matrix Service from a “hold” rating to a “buy” rating in a research report on Friday, October 18th.

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.