Federated Hermes Inc. Cuts Stake in Mistras Group, Inc. (NYSE:MG)

Federated Hermes Inc. cut its holdings in Mistras Group, Inc. (NYSE:MG) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 681,570 shares of the technology company’s stock after selling 18,909 shares during the quarter. Federated Hermes Inc. owned approximately 2.24% of Mistras Group worth $4,989,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Foundry Partners LLC raised its holdings in shares of Mistras Group by 25.1% in the 3rd quarter. Foundry Partners LLC now owns 389,491 shares of the technology company’s stock valued at $2,123,000 after purchasing an additional 78,100 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Mistras Group by 19.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 64,216 shares of the technology company’s stock worth $470,000 after buying an additional 10,476 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Mistras Group by 157.6% during the third quarter. Public Employees Retirement System of Ohio now owns 4,740 shares of the technology company’s stock worth $26,000 after buying an additional 2,900 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Mistras Group during the 3rd quarter valued at $53,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Mistras Group in the 3rd quarter valued at $357,000. 74.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, TheStreet upgraded Mistras Group from a “d+” rating to a “c-” rating in a research note on Tuesday, February 27th.

Insider Activity

In related news, EVP Michael J. Lange sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $8.53, for a total transaction of $42,650.00. Following the transaction, the executive vice president now directly owns 341,838 shares in the company, valued at approximately $2,915,878.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 12.30% of the company’s stock.

Mistras Group Stock Down 1.1 %

MG stock opened at $8.83 on Friday. The firm has a 50-day simple moving average of $9.04 and a two-hundred day simple moving average of $7.59. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.55 and a quick ratio of 1.42. Mistras Group, Inc. has a one year low of $4.96 and a one year high of $9.85.

Mistras Group (NYSE:MG) last posted its earnings results on Wednesday, March 6th. The technology company reported $0.10 EPS for the quarter. Mistras Group had a negative net margin of 2.48% and a positive return on equity of 3.32%. The company had revenue of $182.07 million during the quarter.

Mistras Group Company Profile

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.