First Wilshire Securities Management Inc. Reduces Stake in Matrix Service (NASDAQ:MTRX)

First Wilshire Securities Management Inc. lowered its position in Matrix Service (NASDAQ:MTRX) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,346,563 shares of the company’s stock after selling 22,844 shares during the period. Matrix Service comprises about 4.3% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 5th largest position. First Wilshire Securities Management Inc. owned about 4.89% of Matrix Service worth $16,118,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MTRX. Harvey Partners LLC boosted its position in shares of Matrix Service by 8.2% in the third quarter. Harvey Partners LLC now owns 1,515,000 shares of the company’s stock valued at $17,468,000 after acquiring an additional 115,000 shares during the period. Needham Investment Management LLC increased its position in shares of Matrix Service by 38.5% in the third quarter. Needham Investment Management LLC now owns 1,420,000 shares of the company’s stock worth $16,373,000 after purchasing an additional 395,000 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Matrix Service by 4.0% in the 4th quarter. Royce & Associates LP now owns 898,122 shares of the company’s stock worth $10,751,000 after buying an additional 34,860 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Matrix Service by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 598,103 shares of the company’s stock worth $6,898,000 after acquiring an additional 4,709 shares during the last quarter. Finally, Portolan Capital Management LLC increased its stake in Matrix Service by 34.3% in the third quarter. Portolan Capital Management LLC now owns 509,059 shares of the company’s stock valued at $5,869,000 after acquiring an additional 129,989 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

Matrix Service Stock Up 0.2 %

NASDAQ MTRX opened at $12.46 on Wednesday. The business has a 50-day moving average price of $13.46 and a 200-day moving average price of $12.69. Matrix Service has a twelve month low of $8.61 and a twelve month high of $15.75. The firm has a market cap of $343.98 million, a price-to-earnings ratio of -10.21 and a beta of 1.11.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.02. Matrix Service had a negative return on equity of 20.81% and a negative net margin of 4.76%. Research analysts expect that Matrix Service will post -0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MTRX. DA Davidson lifted their price target on Matrix Service from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. StockNews.com downgraded Matrix Service from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th.

Matrix Service Profile

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.