Chartwell Investment Partners LLC Buys 8,720 Shares of Matrix Service Co (MTRX)

Chartwell Investment Partners LLC boosted its holdings in Matrix Service Co (NASDAQ:MTRX) by 8.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,432 shares of the oil and gas company’s stock after acquiring an additional 8,720 shares during the quarter. Chartwell Investment Partners LLC owned 0.42% of Matrix Service worth $2,796,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Piedmont Investment Advisors LLC acquired a new stake in Matrix Service in the 2nd quarter valued at approximately $115,000. 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 valued at $134,000 after acquiring an additional 3,211 shares during the period. 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 valued at $155,000 after acquiring an additional 3,825 shares during the period. Engineers Gate Manager LP acquired a new stake in Matrix Service in the 3rd quarter valued at approximately $227,000. Finally, Palouse Capital Management Inc. acquired a new stake in Matrix Service in the 3rd quarter valued at approximately $234,000. Hedge funds and other institutional investors own 88.01% of the company’s stock.

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

Several analysts recently commented on the company. Zacks Investment Research cut Matrix Service from a “hold” rating to a “strong sell” rating in a research report on Saturday, September 15th. ValuEngine upgraded Matrix Service from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd. Finally, BidaskClub upgraded Matrix Service from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 22nd.

Shares of MTRX stock opened at $20.93 on Tuesday. Matrix Service Co has a 1 year low of $13.00 and a 1 year high of $25.75. The firm has a market cap of $570.13 million, a PE ratio of 139.53 and a beta of 1.01.

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