Matrix Service (NASDAQ:MTRX) is Azarias Capital Management L.P.’s 3rd Largest Position

Azarias Capital Management L.P. cut its stake in Matrix Service (NASDAQ:MTRX) by 15.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,218,105 shares of the company’s stock after selling 220,154 shares during the quarter. Matrix Service comprises about 6.5% of Azarias Capital Management L.P.’s portfolio, making the stock its 3rd biggest position. Azarias Capital Management L.P. owned approximately 4.42% of Matrix Service worth $14,581,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new stake in shares of Matrix Service in the 2nd quarter valued at about $110,000. SG Americas Securities LLC purchased a new stake in Matrix Service during the third quarter valued at approximately $108,000. Net Worth Advisory Group acquired a new stake in Matrix Service in the third quarter valued at approximately $125,000. Stanley Laman Group Ltd. grew its holdings in Matrix Service by 2.7% in the third quarter. Stanley Laman Group Ltd. now owns 335,444 shares of the company’s stock worth $3,868,000 after purchasing an additional 8,823 shares during the last quarter. Finally, Keene & Associates Inc. increased its position in shares of Matrix Service by 13.9% during the third quarter. Keene & Associates Inc. now owns 61,575 shares of the company’s stock worth $710,000 after purchasing an additional 7,520 shares in the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Matrix Service Trading Down 0.7 %

NASDAQ:MTRX opened at $15.37 on Thursday. Matrix Service has a twelve month low of $8.61 and a twelve month high of $15.75. The company has a market cap of $423.60 million, a PE ratio of -12.60 and a beta of 1.28. The company’s 50 day moving average is $13.28 and its two-hundred day moving average is $11.85.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate 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%. As a group, analysts expect that Matrix Service will post -0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com raised Matrix Service from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 6th. DA Davidson increased their price target on Matrix Service from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday.

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.