AMG National Trust Bank Increases Holdings in Matrix Service Company (NASDAQ:MTRX)

AMG National Trust Bank raised its position in shares of Matrix Service Company (NASDAQ:MTRX) by 8.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,786 shares of the oil and gas company’s stock after purchasing an additional 2,774 shares during the period. AMG National Trust Bank owned approximately 0.13% of Matrix Service worth $335,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MTRX. Louisiana State Employees Retirement System raised its position in Matrix Service by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the oil and gas company’s stock valued at $178,000 after purchasing an additional 100 shares in the last quarter. Nationwide Fund Advisors raised its position in Matrix Service by 0.3% during the first quarter. Nationwide Fund Advisors now owns 116,642 shares of the oil and gas company’s stock valued at $1,925,000 after purchasing an additional 352 shares in the last quarter. Russell Investments Group Ltd. raised its position in Matrix Service by 59.8% during the first quarter. Russell Investments Group Ltd. now owns 202,919 shares of the oil and gas company’s stock valued at $3,348,000 after purchasing an additional 75,899 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Matrix Service by 8.6% during the first quarter. Great West Life Assurance Co. Can now owns 39,212 shares of the oil and gas company’s stock valued at $645,000 after purchasing an additional 3,115 shares in the last quarter. Finally, Eqis Capital Management Inc. raised its position in Matrix Service by 64.2% during the first quarter. Eqis Capital Management Inc. now owns 19,085 shares of the oil and gas company’s stock valued at $315,000 after purchasing an additional 7,462 shares in the last quarter. Institutional investors and hedge funds own 85.17% of the company’s stock.

Several research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Matrix Service from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Zacks Investment Research downgraded shares of Matrix Service from a “hold” rating to a “strong sell” rating in a report on Thursday, September 14th. BidaskClub upgraded shares of Matrix Service from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Matrix Service in a research report on Monday, August 28th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company presently has an average rating of “Hold”.

Matrix Service Company (NASDAQ:MTRX) opened at 14.80 on Friday. Matrix Service Company has a 52-week low of $7.80 and a 52-week high of $23.45. The company’s market cap is $393.68 million. The stock’s 50 day moving average is $11.59 and its 200-day moving average is $11.74.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, September 6th. The oil and gas company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The company had revenue of $291.84 million during the quarter, compared to analyst estimates of $281.82 million. Matrix Service had a negative return on equity of 0.06% and a negative net margin of 0.02%. The firm’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter last year, the business earned $0.34 earnings per share. Equities research analysts predict that Matrix Service Company will post $0.60 EPS for the current fiscal year.

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Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.

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

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