Acadian Asset Management LLC Has $1.66 Million Stake in Matrix Service (NASDAQ:MTRX)

Acadian Asset Management LLC lifted its stake in shares of Matrix Service (NASDAQ:MTRX) by 152.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 306,911 shares of the company’s stock after purchasing an additional 185,116 shares during the period. Acadian Asset Management LLC owned approximately 1.14% of Matrix Service worth $1,656,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Matrix Service by 15.9% during the first quarter. BlackRock Inc. now owns 2,423,133 shares of the company’s stock worth $19,917,000 after purchasing an additional 332,650 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Matrix Service by 3.8% during the first quarter. Bank of New York Mellon Corp now owns 2,387,827 shares of the company’s stock worth $19,627,000 after buying an additional 87,158 shares during the last quarter. First Wilshire Securities Management Inc. raised its stake in shares of Matrix Service by 10.5% during the fourth quarter. First Wilshire Securities Management Inc. now owns 2,171,934 shares of the company’s stock worth $13,509,000 after buying an additional 206,471 shares during the last quarter. Aegis Financial Corp bought a new stake in shares of Matrix Service during the fourth quarter worth approximately $7,206,000. Finally, Azarias Capital Management L.P. raised its stake in shares of Matrix Service by 0.9% during the fourth quarter. Azarias Capital Management L.P. now owns 1,046,888 shares of the company’s stock worth $6,512,000 after buying an additional 9,256 shares during the last quarter. 76.75% of the stock is currently owned by institutional investors and hedge funds.

Matrix Service Trading Down 2.4 %

MTRX opened at $8.11 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.37 and a quick ratio of 1.33. The company has a market cap of $219.35 million, a price-to-earnings ratio of -5.67 and a beta of 1.58. The firm has a 50 day simple moving average of $6.60 and a 200 day simple moving average of $5.98. Matrix Service has a fifty-two week low of $3.31 and a fifty-two week high of $9.52.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Matrix Service in a research note on Thursday, August 17th. They set a “hold” rating for the company.

Matrix Service Profile

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, South Korea, Australia, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.