Price T Rowe Associates Inc. MD Purchases 1,388 Shares of Matrix Service (NASDAQ:MTRX)

Price T Rowe Associates Inc. MD boosted its holdings in Matrix Service (NASDAQ:MTRX) by 3.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,465 shares of the company’s stock after purchasing an additional 1,388 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Matrix Service were worth $485,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MTRX. Tower Research Capital LLC TRC lifted its holdings in shares of Matrix Service by 180.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,713 shares of the company’s stock worth $32,000 after purchasing an additional 1,746 shares during the period. R Squared Ltd bought a new position in shares of Matrix Service in the fourth quarter valued at approximately $45,000. Legal & General Group Plc grew its holdings in Matrix Service by 29.6% during the fourth quarter. Legal & General Group Plc now owns 8,236 shares of the company’s stock valued at $99,000 after purchasing an additional 1,881 shares during the period. SG Americas Securities LLC lifted its position in shares of Matrix Service by 18.4% during the fourth quarter. SG Americas Securities LLC now owns 11,123 shares of the company’s stock worth $133,000 after acquiring an additional 1,731 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new stake in shares of Matrix Service during the fourth quarter worth $174,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

MTRX has been the topic of a number of research analyst reports. StockNews.com cut Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. DA Davidson lifted their target price on shares of Matrix Service from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, February 11th.

Matrix Service Stock Performance

Shares of Matrix Service stock opened at $12.97 on Wednesday. The company has a market capitalization of $358.06 million, a P/E ratio of -10.63 and a beta of 1.04. The company has a fifty day moving average of $11.78 and a 200 day moving average of $12.67. Matrix Service has a fifty-two week low of $8.61 and a fifty-two week high of $15.75.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. The business had revenue of $200.16 million during the quarter, compared to the consensus estimate of $215.06 million. Analysts forecast that Matrix Service will post -0.26 EPS for the current year.

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.