Allspring Global Investments Holdings LLC Increases Stock Position in Matrix Service Company $MTRX

Allspring Global Investments Holdings LLC grew its holdings in shares of Matrix Service Company (NASDAQ:MTRX) by 427.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,919 shares of the company’s stock after purchasing an additional 66,400 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.29% of Matrix Service worth $963,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sei Investments Co. boosted its position in shares of Matrix Service by 7.2% during the 2nd quarter. Sei Investments Co. now owns 15,170 shares of the company’s stock worth $205,000 after purchasing an additional 1,025 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Matrix Service by 68.9% during the second quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock worth $34,000 after buying an additional 1,032 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in Matrix Service by 4.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 37,305 shares of the company’s stock worth $436,000 after buying an additional 1,670 shares in the last quarter. Strs Ohio grew its position in Matrix Service by 3.8% during the fourth quarter. Strs Ohio now owns 47,000 shares of the company’s stock worth $550,000 after buying an additional 1,700 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Matrix Service by 133.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after buying an additional 1,893 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

Matrix Service Price Performance

Shares of NASDAQ MTRX opened at $12.34 on Monday. The firm’s 50-day moving average is $13.08 and its two-hundred day moving average is $12.42. The company has a market capitalization of $347.12 million, a PE ratio of -23.28, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. Matrix Service Company has a 12-month low of $9.88 and a 12-month high of $16.10.

Matrix Service (NASDAQ:MTRX) last posted its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The firm had revenue of $206.71 million for the quarter, compared to analyst estimates of $231.52 million. Matrix Service had a negative return on equity of 3.60% and a negative net margin of 1.77%. On average, analysts forecast that Matrix Service Company will post 0.25 EPS for the current fiscal year.

Insider Activity at Matrix Service

In other news, CEO John R. Hewitt sold 36,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $12.50, for a total value of $450,000.00. Following the completion of the transaction, the chief executive officer owned 581,806 shares of the company’s stock, valued at $7,272,575. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Matrix Service in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.50.

Matrix Service Company Profile

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.