Keene & Associates Inc. Acquires 7,520 Shares of Matrix Service (NASDAQ:MTRX)

Keene & Associates Inc. grew its holdings in Matrix Service (NASDAQ:MTRX) by 13.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,575 shares of the company’s stock after purchasing an additional 7,520 shares during the period. Keene & Associates Inc. owned about 0.23% of Matrix Service worth $710,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in shares of Matrix Service by 4.3% in the second quarter. Victory Capital Management Inc. now owns 69,600 shares of the company’s stock valued at $691,000 after purchasing an additional 2,900 shares during the period. Essex Investment Management Co. LLC lifted its holdings in shares of Matrix Service by 1.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 205,561 shares of the company’s stock worth $2,678,000 after buying an additional 3,157 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Matrix Service by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,172,616 shares of the company’s stock worth $11,644,000 after buying an additional 3,215 shares during the period. American Century Companies Inc. grew its position in shares of Matrix Service by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 37,714 shares of the company’s stock worth $374,000 after buying an additional 4,452 shares in the last quarter. Finally, Quadrature Capital Ltd increased its position in Matrix Service by 38.8% during the 4th quarter. Quadrature Capital Ltd now owns 28,807 shares of the company’s stock valued at $281,000 after purchasing an additional 8,059 shares during the period. 78.38% of the stock is currently owned by institutional investors.

Matrix Service Price Performance

MTRX opened at $11.18 on Thursday. The firm has a market capitalization of $305.31 million, a PE ratio of -14.71 and a beta of 1.26. The business’s 50-day moving average is $10.67 and its two-hundred day moving average is $10.68. Matrix Service has a 1 year low of $8.61 and a 1 year high of $13.90.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings results on Monday, September 9th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. The business had revenue of $189.50 million for the quarter, compared to analysts’ expectations of $215.61 million. Matrix Service had a negative net margin of 3.43% and a negative return on equity of 16.87%. As a group, sell-side analysts expect that Matrix Service will post -0.05 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MTRX shares. DA Davidson reiterated a “buy” rating and set a $18.00 price objective on shares of Matrix Service in a research note on Thursday, September 26th. StockNews.com raised Matrix Service from a “hold” rating to a “buy” rating in a research report on Friday, October 18th.

Matrix Service Profile

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.