Municipal Employees Retirement System of Michigan increased its position in Matrix Service Company (NASDAQ:MTRX) by 23.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,310 shares of the oil and gas company’s stock after acquiring an additional 3,880 shares during the period. Municipal Employees Retirement System of Michigan owned about 0.08% of Matrix Service worth $309,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its stake in Matrix Service by 69.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 13,590 shares of the oil and gas company’s stock valued at $207,000 after buying an additional 5,571 shares during the last quarter. IndexIQ Advisors LLC raised its stake in Matrix Service by 83.1% during the 3rd quarter. IndexIQ Advisors LLC now owns 52,530 shares of the oil and gas company’s stock valued at $798,000 after buying an additional 23,835 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Matrix Service during the 3rd quarter valued at $225,000. Aperio Group LLC raised its stake in Matrix Service by 42.1% during the 3rd quarter. Aperio Group LLC now owns 36,231 shares of the oil and gas company’s stock valued at $551,000 after buying an additional 10,740 shares during the last quarter. Finally, Cullen Capital Management LLC purchased a new stake in Matrix Service during the 2nd quarter valued at $157,000. Institutional investors own 88.34% of the company’s stock.
Shares of Matrix Service Company (MTRX) opened at $17.10 on Monday. Matrix Service Company has a 1 year low of $7.80 and a 1 year high of $23.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.72 and a current ratio of 1.74.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Matrix Service from a “sell” rating to a “hold” rating and set a $18.00 target price for the company in a research note on Tuesday, November 14th. ValuEngine lowered shares of Matrix Service from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. TheStreet raised shares of Matrix Service from a “d+” rating to a “c-” rating in a research report on Monday, October 9th. Finally, KeyCorp reissued a “hold” rating on shares of Matrix Service in a research report on Monday, August 28th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.00.
Matrix Service 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.
Receive News & Ratings for Matrix Service Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matrix Service Company and related companies with MarketBeat.com's FREE daily email newsletter.