Matrix Service Co (MTRX) Director Sells $40,606.25 in Stock

Matrix Service Co (NASDAQ:MTRX) Director James Harry Miller sold 1,825 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $22.25, for a total value of $40,606.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of MTRX traded down $0.99 during trading hours on Monday, reaching $21.41. 123,379 shares of the company traded hands, compared to its average volume of 150,443. The company has a quick ratio of 1.46, a current ratio of 1.43 and a debt-to-equity ratio of 0.01. The firm has a market cap of $592.91 million, a P/E ratio of 142.73 and a beta of 1.07. Matrix Service Co has a fifty-two week low of $15.43 and a fifty-two week high of $25.75.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $358.89 million for the quarter, compared to analyst estimates of $347.85 million. Matrix Service had a return on equity of 4.93% and a net margin of 0.04%. The business’s revenue for the quarter was up 46.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.19) earnings per share. As a group, equities analysts expect that Matrix Service Co will post 0.93 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of MTRX. Bank of New York Mellon Corp lifted its position in Matrix Service by 3.3% during the third quarter. Bank of New York Mellon Corp now owns 363,363 shares of the oil and gas company’s stock worth $8,956,000 after buying an additional 11,474 shares during the period. Martingale Asset Management L P purchased a new position in Matrix Service during the third quarter worth about $1,281,000. Renaissance Technologies LLC purchased a new position in Matrix Service during the third quarter worth about $2,987,000. MetLife Investment Advisors LLC lifted its position in Matrix Service by 57.2% during the third quarter. MetLife Investment Advisors LLC now owns 22,319 shares of the oil and gas company’s stock worth $550,000 after buying an additional 8,123 shares during the period. Finally, Teachers Advisors LLC lifted its position in Matrix Service by 6.3% during the third quarter. Teachers Advisors LLC now owns 73,114 shares of the oil and gas company’s stock worth $1,802,000 after buying an additional 4,345 shares during the period. 91.73% of the stock is currently owned by institutional investors and hedge funds.

MTRX has been the topic of a number of analyst reports. Zacks Investment Research raised Matrix Service from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Saturday, February 2nd. BidaskClub lowered Matrix Service from a “buy” rating to a “hold” rating in a research note on Saturday, March 30th. Finally, DA Davidson initiated coverage on Matrix Service in a research note on Wednesday, March 13th. They set a “neutral” rating and a $22.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Matrix Service currently has an average rating of “Hold” and a consensus price target of $36.67.

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Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants and natural gas fired power stations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and emergency and storm restoration services to investor owned utilities.

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