Nancy E. Austin Sells 10,868 Shares of Matrix Service Co (NASDAQ:MTRX) Stock

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Matrix Service Co (NASDAQ:MTRX) VP Nancy E. Austin sold 10,868 shares of the company’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $24.74, for a total value of $268,874.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

MTRX stock traded down $0.66 during mid-day trading on Friday, hitting $21.86. The stock had a trading volume of 166,953 shares, compared to its average volume of 183,623. Matrix Service Co has a 1-year low of $12.76 and a 1-year high of $25.75. The firm has a market cap of $665.78 million, a P/E ratio of 145.73 and a beta of 0.82.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Monday, September 10th. The oil and gas company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.04). Matrix Service had a positive return on equity of 1.58% and a negative net margin of 1.05%. The firm had revenue of $293.10 million during the quarter, compared to analyst estimates of $292.69 million. During the same period in the previous year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. As a group, sell-side analysts forecast that Matrix Service Co will post 1.01 earnings per share for the current fiscal year.

MTRX has been the topic of several recent analyst reports. BidaskClub lowered Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 19th. Citigroup upped their price target on Matrix Service from $37.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 5th. Zacks Investment Research raised Matrix Service from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 4th. Finally, ValuEngine lowered Matrix Service from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th.

A number of hedge funds have recently modified their holdings of the business. Legal & General Group Plc increased its position in Matrix Service by 5.1% in the 2nd quarter. Legal & General Group Plc now owns 52,545 shares of the oil and gas company’s stock worth $971,000 after purchasing an additional 2,542 shares during the last quarter. Global X Management Co LLC increased its position in Matrix Service by 17.2% in the 2nd quarter. Global X Management Co LLC now owns 18,158 shares of the oil and gas company’s stock worth $333,000 after purchasing an additional 2,660 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Matrix Service by 78.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,303 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 3,211 shares during the last quarter. Meeder Asset Management Inc. increased its position in Matrix Service by 83.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 8,436 shares of the oil and gas company’s stock worth $155,000 after purchasing an additional 3,825 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Matrix Service by 0.6% during the 1st quarter. Northern Trust Corp now owns 777,631 shares of the oil and gas company’s stock worth $10,654,000 after acquiring an additional 4,600 shares in the last quarter. 92.48% of the stock is currently owned by institutional investors.

About Matrix Service

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants, natural gas fired power stations, and renewable energy installations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and storm restoration services to investor owned utilities.

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