First Wilshire Securities Management Inc. Has $16.12 Million Stock Position in Matrix Service (NASDAQ:MTRX)

First Wilshire Securities Management Inc. reduced its stake in Matrix Service (NASDAQ:MTRX) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,346,563 shares of the company’s stock after selling 22,844 shares during the period. Matrix Service accounts for 4.3% of First Wilshire Securities Management Inc.’s holdings, making the stock its 5th biggest holding. First Wilshire Securities Management Inc.’s holdings in Matrix Service were worth $16,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Harvey Partners LLC grew its stake in Matrix Service by 8.2% in the third quarter. Harvey Partners LLC now owns 1,515,000 shares of the company’s stock worth $17,468,000 after purchasing an additional 115,000 shares in the last quarter. Needham Investment Management LLC lifted its holdings in shares of Matrix Service by 38.5% in the 3rd quarter. Needham Investment Management LLC now owns 1,420,000 shares of the company’s stock worth $16,373,000 after buying an additional 395,000 shares during the period. Royce & Associates LP lifted its holdings in shares of Matrix Service by 4.0% in the 4th quarter. Royce & Associates LP now owns 898,122 shares of the company’s stock worth $10,751,000 after buying an additional 34,860 shares during the period. Geode Capital Management LLC grew its position in shares of Matrix Service by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 598,103 shares of the company’s stock worth $6,898,000 after buying an additional 4,709 shares in the last quarter. Finally, Portolan Capital Management LLC increased its stake in shares of Matrix Service by 34.3% during the third quarter. Portolan Capital Management LLC now owns 509,059 shares of the company’s stock valued at $5,869,000 after buying an additional 129,989 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

Matrix Service Price Performance

Shares of MTRX stock opened at $12.46 on Wednesday. The stock’s 50-day moving average is $13.46 and its 200 day moving average is $12.69. Matrix Service has a 1-year low of $8.61 and a 1-year high of $15.75. The company has a market cap of $343.98 million, a P/E ratio of -10.21 and a beta of 1.11.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. On average, analysts anticipate that Matrix Service will post -0.26 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MTRX shares. StockNews.com cut shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. DA Davidson increased their price objective on shares of Matrix Service from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th.

About Matrix Service

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.