Royce & Associates LP Purchases 71,490 Shares of Mistras Group Inc $MG

Royce & Associates LP grew its holdings in shares of Mistras Group Inc (NYSE:MG) by 5.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,342,747 shares of the technology company’s stock after buying an additional 71,490 shares during the quarter. Royce & Associates LP owned 4.26% of Mistras Group worth $13,213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in Mistras Group during the 1st quarter valued at $256,000. Empowered Funds LLC increased its stake in Mistras Group by 7.3% in the first quarter. Empowered Funds LLC now owns 218,088 shares of the technology company’s stock worth $2,307,000 after purchasing an additional 14,786 shares during the period. Voya Investment Management LLC lifted its position in shares of Mistras Group by 64.6% during the first quarter. Voya Investment Management LLC now owns 22,449 shares of the technology company’s stock worth $238,000 after purchasing an additional 8,807 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Mistras Group during the second quarter valued at $81,000. Finally, CSM Advisors LLC bought a new position in shares of Mistras Group in the second quarter worth about $2,917,000. 74.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group set a $16.00 price objective on shares of Mistras Group in a research report on Thursday, November 20th. Zacks Research raised shares of Mistras Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Mistras Group in a research note on Thursday. Finally, Wall Street Zen upgraded Mistras Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $16.00.

Mistras Group Stock Performance

Shares of MG stock opened at $14.15 on Monday. The firm has a market cap of $446.43 million, a price-to-earnings ratio of 24.40, a PEG ratio of 0.90 and a beta of 0.91. Mistras Group Inc has a 52-week low of $7.06 and a 52-week high of $14.70. The company has a quick ratio of 1.77, a current ratio of 1.89 and a debt-to-equity ratio of 0.89. The company’s 50 day moving average is $12.79 and its 200 day moving average is $10.66.

Mistras Group (NYSE:MG) last announced its earnings results on Tuesday, November 4th. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.20. Mistras Group had a return on equity of 13.10% and a net margin of 2.55%.The business had revenue of $195.55 million for the quarter, compared to analysts’ expectations of $189.94 million. On average, sell-side analysts anticipate that Mistras Group Inc will post 0.71 EPS for the current fiscal year.

Mistras Group Profile

Mistras Group, Inc is a global provider of technology-enabled asset protection solutions and services, with a primary focus on nondestructive testing (NDT), inspection, and monitoring of critical infrastructure and industrial assets. The company’s offerings span a wide range of techniques—such as ultrasonic testing, eddy current detection, magnetic particle inspection, radiography and acoustic emission—to help clients in energy, petrochemical, aerospace, manufacturing and other sectors identify and address potential failures before they occur.

In addition to traditional NDT services, Mistras delivers engineered materials solutions, including composite repairs and specialty coatings, along with predictive maintenance and condition monitoring programs.