FMR LLC cut its position in shares of Matrix Service Company (NASDAQ:MTRX) by 28.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,324 shares of the oil and gas company’s stock after selling 13,281 shares during the period. FMR LLC owned about 0.13% of Matrix Service worth $550,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the stock. Thrivent Financial for Lutherans increased its stake in Matrix Service by 6.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,300 shares of the oil and gas company’s stock worth $325,000 after buying an additional 810 shares in the last quarter. Norges Bank acquired a new stake in Matrix Service during the fourth quarter worth about $11,799,000. Teachers Advisors LLC increased its stake in Matrix Service by 16.4% in the fourth quarter. Teachers Advisors LLC now owns 487,591 shares of the oil and gas company’s stock worth $11,068,000 after buying an additional 68,646 shares in the last quarter. Foundry Partners LLC increased its stake in Matrix Service by 41.0% in the first quarter. Foundry Partners LLC now owns 16,665 shares of the oil and gas company’s stock worth $275,000 after buying an additional 4,845 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Matrix Service by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the oil and gas company’s stock worth $178,000 after buying an additional 100 shares in the last quarter. 84.95% of the stock is owned by hedge funds and other institutional investors.
Shares of Matrix Service Company (NASDAQ MTRX) opened at 9.80 on Friday. Matrix Service Company has a one year low of $7.80 and a one year high of $23.45. The company has a market cap of $260.68 million, a P/E ratio of 26.42 and a beta of 0.75. The stock’s 50 day moving average is $9.81 and its 200-day moving average is $12.73.
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MTRX has been the subject of a number of recent research reports. Stephens reissued a “hold” rating on shares of Matrix Service in a report on Monday, May 15th. Zacks Investment Research downgraded shares of Matrix Service from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 17th. TheStreet downgraded shares of Matrix Service from a “c-” rating to a “d+” rating in a report on Wednesday, May 24th. ValuEngine downgraded shares of Matrix Service from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub raised shares of Matrix Service from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Matrix Service has a consensus rating of “Hold” and a consensus target price of $20.00.
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.
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