Brandywine Global Investment Management LLC Makes New $63,000 Investment in Matrix Service (NASDAQ:MTRX)

Brandywine Global Investment Management LLC purchased a new stake in Matrix Service (NASDAQ:MTRX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,607 shares of the company’s stock, valued at approximately $63,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. ExodusPoint Capital Management LP bought a new stake in Matrix Service during the 2nd quarter valued at $59,000. Tower Research Capital LLC TRC lifted its holdings in Matrix Service by 792.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 13,154 shares of the company’s stock worth $71,000 after purchasing an additional 11,680 shares in the last quarter. Terril Brothers Inc. grew its holdings in Matrix Service by 41.7% during the 1st quarter. Terril Brothers Inc. now owns 14,165 shares of the company’s stock valued at $76,000 after buying an additional 4,165 shares in the last quarter. Barclays PLC grew its holdings in Matrix Service by 55.0% during the 4th quarter. Barclays PLC now owns 14,961 shares of the company’s stock valued at $93,000 after buying an additional 5,307 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Matrix Service during the first quarter valued at about $109,000. Institutional investors own 76.75% of the company’s stock.

Matrix Service Price Performance

MTRX stock opened at $9.35 on Tuesday. The firm has a 50 day simple moving average of $7.21 and a two-hundred day simple moving average of $6.13. The stock has a market cap of $254.41 million, a PE ratio of -4.82 and a beta of 1.53. Matrix Service has a one year low of $3.31 and a one year high of $9.52. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.40 and a quick ratio of 1.33.

Analyst Ratings Changes

Several brokerages recently commented on MTRX. StockNews.com raised shares of Matrix Service from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. TheStreet raised shares of Matrix Service from a “d+” rating to a “c-” rating in a report on Wednesday, September 6th. Finally, DA Davidson lifted their price objective on Matrix Service from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, September 13th.

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, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.