Country Trust Bank Buys New Shares in Matrix Service Company $MTRX

Country Trust Bank bought a new stake in Matrix Service Company (NASDAQ:MTRX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 132,662 shares of the company’s stock, valued at approximately $1,552,000. Country Trust Bank owned approximately 0.47% of Matrix Service at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in Matrix Service in the fourth quarter valued at approximately $187,000. JPMorgan Chase & Co. grew its stake in Matrix Service by 44.1% in the third quarter. JPMorgan Chase & Co. now owns 306,848 shares of the company’s stock valued at $4,014,000 after purchasing an additional 93,927 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in Matrix Service in the third quarter valued at approximately $1,308,000. PharVision Advisers LLC bought a new position in Matrix Service in the third quarter valued at approximately $154,000. Finally, XTX Topco Ltd grew its stake in Matrix Service by 55.7% in the third quarter. XTX Topco Ltd now owns 46,259 shares of the company’s stock valued at $605,000 after purchasing an additional 16,549 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Analyst Ratings Changes

MTRX has been the subject of a number of analyst reports. DA Davidson restated a “buy” rating and issued a $17.00 price target on shares of Matrix Service in a research note on Friday, February 6th. Northland Securities set a $24.00 price objective on shares of Matrix Service in a research report on Wednesday, February 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Matrix Service in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Insider Transactions at Matrix Service

In related news, VP Nancy E. Austin sold 4,193 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $11.29, for a total value of $47,338.97. Following the completion of the sale, the vice president directly owned 106,138 shares in the company, valued at $1,198,298.02. The trade was a 3.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.40% of the stock is owned by company insiders.

Matrix Service Stock Performance

Shares of MTRX stock opened at $11.66 on Tuesday. The company has a market capitalization of $327.97 million, a price-to-earnings ratio of -17.15, a PEG ratio of 2.70 and a beta of 0.94. The company has a 50-day simple moving average of $11.51 and a 200 day simple moving average of $12.27. Matrix Service Company has a 52 week low of $9.33 and a 52 week high of $16.10.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, February 4th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.06). The company had revenue of $210.51 million for the quarter, compared to the consensus estimate of $215.42 million. Matrix Service had a negative return on equity of 8.56% and a negative net margin of 2.30%. Sell-side analysts forecast that Matrix Service Company will post -0.26 EPS for the current year.

About Matrix Service

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.