Nisa Investment Advisors LLC Decreases Stake in Matrix Service (NASDAQ:MTRX)

Nisa Investment Advisors LLC trimmed its position in shares of Matrix Service (NASDAQ:MTRX) by 15.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,500 shares of the oil and gas company’s stock after selling 1,800 shares during the period. Nisa Investment Advisors LLC’s holdings in Matrix Service were worth $100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in MTRX. Rutabaga Capital Management LLC MA grew its position in shares of Matrix Service by 35.6% during the first quarter. Rutabaga Capital Management LLC MA now owns 524,204 shares of the oil and gas company’s stock worth $6,872,000 after buying an additional 137,542 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Matrix Service by 233.3% during the first quarter. Quantbot Technologies LP now owns 4,000 shares of the oil and gas company’s stock worth $52,000 after purchasing an additional 2,800 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new position in Matrix Service in the first quarter worth $143,000. Factorial Partners LLC raised its position in Matrix Service by 604.5% in the first quarter. Factorial Partners LLC now owns 254,334 shares of the oil and gas company’s stock worth $19,400,000 after acquiring an additional 218,234 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Matrix Service by 204.9% in the first quarter. Bank of New York Mellon Corp now owns 1,823,575 shares of the oil and gas company’s stock worth $23,906,000 after acquiring an additional 1,225,536 shares in the last quarter. 84.58% of the stock is currently owned by hedge funds and other institutional investors.

MTRX has been the topic of a number of analyst reports. Zacks Investment Research lowered Matrix Service from a “hold” rating to a “strong sell” rating in a research note on Friday. TheStreet downgraded Matrix Service from a “c-” rating to a “d+” rating in a report on Thursday, June 10th. Finally, DA Davidson restated a “buy” rating on shares of Matrix Service in a report on Thursday, September 2nd.

Shares of Matrix Service stock opened at $9.99 on Friday. The stock’s fifty day moving average is $10.82 and its 200-day moving average is $11.86. The firm has a market capitalization of $266.70 million, a PE ratio of -9.99 and a beta of 1.74. Matrix Service has a 12-month low of $7.12 and a 12-month high of $16.32.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings results on Sunday, September 12th. The oil and gas company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.37). Matrix Service had a negative return on equity of 5.13% and a negative net margin of 3.78%. During the same period in the prior year, the company posted ($0.01) EPS. As a group, equities analysts anticipate that Matrix Service will post -0.52 earnings per share for the current fiscal year.

About Matrix Service

Matrix Service Co engages in the provision of engineering, fabrication, infrastructure, construction, and maintenance services. It operates through the following segments: Electrical Infrastructure; Oil, Gas and Chemical; Storage Solutions; and Industrial. The Electrical Infrastructure segment includes the construction of new substations, upgrades of existing substations, short-run transmission line installations, distribution upgrades and maintenance, as well as emergency and storm restoration services.

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Institutional Ownership by Quarter for Matrix Service (NASDAQ:MTRX)

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