CenterBook Partners LP Acquires 226,325 Shares of Matrix Service Company $MTRX

CenterBook Partners LP boosted its holdings in Matrix Service Company (NASDAQ:MTRX) by 55.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 634,046 shares of the company’s stock after purchasing an additional 226,325 shares during the period. CenterBook Partners LP’s holdings in Matrix Service were worth $7,418,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quarry LP bought a new stake in Matrix Service in the third quarter valued at about $28,000. BNP Paribas Financial Markets increased its stake in Matrix Service by 68.9% in the second quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock valued at $34,000 after acquiring an additional 1,032 shares during the period. Tower Research Capital LLC TRC increased its stake in Matrix Service by 133.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock valued at $45,000 after acquiring an additional 1,893 shares during the period. Aquatic Capital Management LLC bought a new stake in Matrix Service in the third quarter valued at about $67,000. Finally, Daytona Street Capital LLC bought a new stake in Matrix Service in the fourth quarter valued at about $78,000. Institutional investors own 78.38% of the company’s stock.

Insider Activity

In other news, CEO John R. Hewitt sold 36,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $12.50, for a total transaction of $450,000.00. Following the transaction, the chief executive officer directly owned 581,806 shares in the company, valued at approximately $7,272,575. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MTRX. Weiss Ratings reissued a “sell (d-)” rating on shares of Matrix Service in a research note on Tuesday, April 21st. Northland Securities set a $24.00 price objective on shares of Matrix Service in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Matrix Service Stock Performance

Shares of Matrix Service stock opened at $13.56 on Monday. The stock has a market capitalization of $381.44 million, a price-to-earnings ratio of -25.58, a P/E/G ratio of 3.01 and a beta of 0.99. Matrix Service Company has a 1-year low of $9.88 and a 1-year high of $16.10. The firm’s 50-day moving average price is $12.47 and its two-hundred day moving average price is $12.10.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.06. The firm had revenue of $206.71 million for the quarter, compared to analysts’ expectations of $231.52 million. Matrix Service had a negative net margin of 1.77% and a negative return on equity of 3.60%. As a group, equities research analysts predict that Matrix Service Company will post 0.25 EPS for the current year.

Matrix Service Company Profile

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.