Pinebridge Investments L.P. reduced its stake in Matrix Service Co (NASDAQ:MTRX) by 40.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 46,359 shares of the oil and gas company’s stock after selling 30,980 shares during the period. Pinebridge Investments L.P.’s holdings in Matrix Service were worth $825,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Matrix Service in the 3rd quarter worth about $138,000. Voya Investment Management LLC raised its stake in Matrix Service by 22.5% in the 2nd quarter. Voya Investment Management LLC now owns 16,344 shares of the oil and gas company’s stock valued at $153,000 after acquiring an additional 2,997 shares during the period. Brandes Investment Partners LP bought a new stake in Matrix Service in the 3rd quarter valued at about $171,000. Hotchkis & Wiley Capital Management LLC bought a new stake in Matrix Service in the 3rd quarter valued at about $185,000. Finally, BNP Paribas Arbitrage SA raised its stake in Matrix Service by 69.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 13,590 shares of the oil and gas company’s stock valued at $207,000 after acquiring an additional 5,571 shares during the period. 91.23% of the stock is currently owned by institutional investors.
In related news, CEO John R. Hewitt sold 5,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $17.66, for a total value of $88,300.00. Following the sale, the chief executive officer now directly owns 283,529 shares in the company, valued at approximately $5,007,122.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.
Shares of Matrix Service Co (NASDAQ:MTRX) opened at $14.30 on Thursday. Matrix Service Co has a 52 week low of $7.80 and a 52 week high of $20.25. The stock has a market capitalization of $400.24, a PE ratio of -57.20 and a beta of 0.63. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.15.
Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings data on Wednesday, February 7th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.01. Matrix Service had a negative return on equity of 1.97% and a negative net margin of 0.59%. The business had revenue of $282.90 million for the quarter, compared to analysts’ expectations of $298.43 million. During the same period in the previous year, the business posted $0.20 EPS. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year. equities analysts anticipate that Matrix Service Co will post 0.67 earnings per share for the current fiscal year.
Matrix Service Profile
Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.
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