Matrix Service Company $MTRX Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC raised its holdings in shares of Matrix Service Company (NASDAQ:MTRX) by 15.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 280,394 shares of the company’s stock after purchasing an additional 38,233 shares during the quarter. Acadian Asset Management LLC owned 1.02% of Matrix Service worth $3,785,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in Matrix Service by 244.6% in the first quarter. Bank of New York Mellon Corp now owns 403,385 shares of the company’s stock valued at $5,014,000 after buying an additional 286,326 shares during the last quarter. CWM LLC grew its position in shares of Matrix Service by 138.4% in the 1st quarter. CWM LLC now owns 10,002 shares of the company’s stock worth $124,000 after acquiring an additional 5,806 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Matrix Service by 7.7% in the 1st quarter. Victory Capital Management Inc. now owns 90,540 shares of the company’s stock valued at $1,125,000 after acquiring an additional 6,462 shares during the last quarter. De Lisle Partners LLP raised its position in shares of Matrix Service by 28.9% during the 1st quarter. De Lisle Partners LLP now owns 237,935 shares of the company’s stock valued at $2,961,000 after acquiring an additional 53,343 shares in the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in Matrix Service during the first quarter worth $914,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Matrix Service Price Performance

Shares of NASDAQ:MTRX opened at $11.84 on Friday. Matrix Service Company has a 12 month low of $9.33 and a 12 month high of $16.10. The stock’s 50 day moving average price is $13.26 and its 200 day moving average price is $13.50. The stock has a market cap of $333 million, a price-to-earnings ratio of -11.28, a PEG ratio of 1.23 and a beta of 1.06.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, November 5th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. Matrix Service had a negative return on equity of 17.21% and a negative net margin of 3.83%.The business had revenue of $211.88 million during the quarter, compared to analysts’ expectations of $206.66 million. Matrix Service has set its FY 2026 guidance at EPS. On average, sell-side analysts expect that Matrix Service Company will post -0.26 EPS for the current year.

Insiders Place Their Bets

In other news, Director John D. Chandler bought 2,300 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was bought at an average cost of $12.74 per share, for a total transaction of $29,302.00. Following the completion of the acquisition, the director directly owned 78,053 shares in the company, valued at $994,395.22. This represents a 3.04% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Shawn P. Payne sold 8,250 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $12.58, for a total transaction of $103,785.00. Following the completion of the transaction, the insider directly owned 110,429 shares of the company’s stock, valued at $1,389,196.82. This represents a 6.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Matrix Service in a report on Wednesday, October 8th. DA Davidson reiterated a “buy” rating and set a $17.00 price objective on shares of Matrix Service in a research note on Tuesday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.00.

Matrix Service Company 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.