Man Group plc Buys New Holdings in Matrix Service Company $MTRX

Man Group plc acquired a new stake in shares of Matrix Service Company (NASDAQ:MTRX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 194,010 shares of the company’s stock, valued at approximately $2,658,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new position in shares of Matrix Service during the third quarter valued at about $28,000. BNP Paribas Financial Markets boosted its holdings in shares of Matrix Service by 68.9% during the second quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock worth $34,000 after purchasing an additional 1,032 shares during the period. Legal & General Group Plc bought a new stake in shares of Matrix Service in the second quarter worth about $38,000. Tower Research Capital LLC TRC grew its stake in shares of Matrix Service by 133.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after purchasing an additional 1,893 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in Matrix Service during the 3rd quarter valued at about $67,000. Institutional investors own 78.38% of the company’s stock.

Matrix Service Stock Performance

MTRX stock opened at $10.81 on Tuesday. The firm has a 50 day moving average price of $12.12 and a 200-day moving average price of $12.11. Matrix Service Company has a 52-week low of $9.88 and a 52-week high of $15.97. The firm has a market capitalization of $304.09 million, a price-to-earnings ratio of -20.40, a PEG ratio of 0.87 and a beta of 1.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Matrix Service in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Matrix Service currently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

About Matrix Service

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.