Pacific Ridge Capital Partners LLC Has $2.20 Million Holdings in Matrix Service Co (MTRX)

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Pacific Ridge Capital Partners LLC raised its position in Matrix Service Co (NASDAQ:MTRX) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,300 shares of the oil and gas company’s stock after purchasing an additional 4,510 shares during the period. Pacific Ridge Capital Partners LLC owned 0.33% of Matrix Service worth $2,201,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Piedmont Investment Advisors LLC bought a new position in Matrix Service in the 2nd quarter valued at $115,000. Public Employees Retirement System of Ohio boosted its holdings 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 valued at $134,000 after purchasing an additional 3,211 shares during the period. Sun Life Financial INC purchased a new stake in shares of Matrix Service during the 2nd quarter valued at $189,000. Ibex Investors LLC purchased a new stake in shares of Matrix Service during the 3rd quarter valued at $204,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Matrix Service during the 3rd quarter valued at $227,000. 92.24% of the stock is owned by hedge funds and other institutional investors.

MTRX has been the topic of several research reports. Zacks Investment Research cut shares of Matrix Service from a “hold” rating to a “strong sell” rating in a research report on Saturday, September 15th. ValuEngine cut shares of Matrix Service from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Finally, BidaskClub cut shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 3rd.

In related news, COO Joseph F. Montalbano sold 34,785 shares of Matrix Service stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $22.66, for a total value of $788,228.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bradley J. Rinehart sold 1,116 shares of Matrix Service stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $24.65, for a total transaction of $27,509.40. Following the completion of the transaction, the insider now owns 65,167 shares in the company, valued at approximately $1,606,366.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,266 shares of company stock worth $2,369,773. Corporate insiders own 1.90% of the company’s stock.

Matrix Service stock opened at $18.96 on Friday. The firm has a market cap of $510.03 million, a PE ratio of 126.40 and a beta of 0.99. Matrix Service Co has a fifty-two week low of $13.00 and a fifty-two week high of $25.75.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, November 7th. The oil and gas company reported $0.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. The firm had revenue of $318.50 million for the quarter, compared to analysts’ expectations of $294.82 million. Matrix Service had a negative net margin of 1.14% and a positive return on equity of 1.12%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the company posted $0.14 EPS. As a group, sell-side analysts expect that Matrix Service Co will post 1.01 earnings per share for the current year.

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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 and natural gas fired power stations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and emergency and storm restoration services to investor owned utilities.

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

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