Rhumbline Advisers Lowers Stock Position in Mistras Group Inc $MG

Rhumbline Advisers trimmed its stake in Mistras Group Inc (NYSE:MG) by 6.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 21,645 shares of the technology company’s stock after selling 1,375 shares during the period. Rhumbline Advisers owned about 0.07% of Mistras Group worth $229,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Strs Ohio acquired a new stake in Mistras Group in the 1st quarter valued at approximately $522,000. Empowered Funds LLC lifted its stake in Mistras Group by 7.3% during the first quarter. Empowered Funds LLC now owns 218,088 shares of the technology company’s stock worth $2,307,000 after purchasing an additional 14,786 shares in the last quarter. Clearline Capital LP purchased a new position in shares of Mistras Group during the first quarter worth $403,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Mistras Group in the first quarter valued at $256,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Mistras Group in the first quarter valued at $47,000. 74.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Eileen Mary Coggins acquired 15,000 shares of the stock in a transaction dated Monday, September 15th. The stock was acquired at an average cost of $9.55 per share, with a total value of $143,250.00. Following the completion of the transaction, the executive vice president owned 15,000 shares in the company, valued at $143,250. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.80% of the company’s stock.

Mistras Group Stock Performance

NYSE:MG opened at $9.59 on Friday. Mistras Group Inc has a 52 week low of $7.06 and a 52 week high of $12.44. The company has a fifty day simple moving average of $9.06 and a two-hundred day simple moving average of $8.80. The company has a quick ratio of 1.54, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. The company has a market cap of $302.47 million, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 0.90 and a beta of 1.33.

Mistras Group (NYSE:MG) last announced its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. Mistras Group had a return on equity of 9.37% and a net margin of 1.64%.The business had revenue of $185.41 million for the quarter, compared to analysts’ expectations of $186.43 million. As a group, equities analysts anticipate that Mistras Group Inc will post 0.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Mistras Group from a “hold” rating to a “buy” rating in a research note on Friday, September 5th.

Mistras Group 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.