WealthTrust Axiom LLC Decreases Holdings in Matrix Service (NASDAQ:MTRX)

WealthTrust Axiom LLC cut its position in shares of Matrix Service (NASDAQ:MTRX) by 25.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 163,075 shares of the company’s stock after selling 54,777 shares during the quarter. WealthTrust Axiom LLC owned 0.60% of Matrix Service worth $1,595,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MTRX. Bank of New York Mellon Corp increased its position in shares of Matrix Service by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 1,439,655 shares of the company’s stock valued at $16,988,000 after buying an additional 21,217 shares in the last quarter. Azarias Capital Management L.P. lifted its holdings in shares of Matrix Service by 25.8% in the fourth quarter. Azarias Capital Management L.P. now owns 1,261,761 shares of the company’s stock valued at $12,340,000 after purchasing an additional 258,390 shares in the last quarter. Gendell Jeffrey L grew its position in shares of Matrix Service by 18.6% in the third quarter. Gendell Jeffrey L now owns 825,000 shares of the company’s stock valued at $9,735,000 after purchasing an additional 129,441 shares during the last quarter. Boston Partners increased its stake in shares of Matrix Service by 3.4% during the 3rd quarter. Boston Partners now owns 468,044 shares of the company’s stock worth $5,523,000 after purchasing an additional 15,324 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Matrix Service by 21.6% during the 3rd quarter. Acadian Asset Management LLC now owns 361,988 shares of the company’s stock worth $4,270,000 after purchasing an additional 64,276 shares during the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Matrix Service from a “hold” rating to a “buy” rating in a report on Saturday, February 17th.

Insider Transactions at Matrix Service

In related news, CEO John R. Hewitt sold 10,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $13.25, for a total transaction of $132,500.00. Following the transaction, the chief executive officer now directly owns 477,891 shares in the company, valued at $6,332,055.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Kevin A. Durkin sold 3,900 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $13.14, for a total value of $51,246.00. Following the completion of the sale, the vice president now owns 72,231 shares of the company’s stock, valued at $949,115.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John R. Hewitt sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $13.25, for a total value of $132,500.00. Following the sale, the chief executive officer now owns 477,891 shares in the company, valued at $6,332,055.75. The disclosure for this sale can be found here. Insiders have sold 17,800 shares of company stock worth $233,354 over the last quarter. 3.70% of the stock is currently owned by insiders.

Matrix Service Price Performance

NASDAQ:MTRX traded down $0.12 on Tuesday, reaching $11.24. The stock had a trading volume of 67,188 shares, compared to its average volume of 204,130. The company has a market cap of $306.85 million, a price-to-earnings ratio of -16.23 and a beta of 1.23. Matrix Service has a 12-month low of $4.78 and a 12-month high of $13.90. The firm’s fifty day moving average is $12.43 and its two-hundred day moving average is $11.16.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, February 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). The firm had revenue of $175.04 million for the quarter, compared to analyst estimates of $195.27 million. Matrix Service had a negative return on equity of 12.50% and a negative net margin of 2.49%. As a group, research analysts forecast that Matrix Service will post -0.35 earnings per share for the current fiscal year.

About Matrix Service

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.