Harvey Partners LLC Increases Position in Matrix Service (NASDAQ:MTRX)

Harvey Partners LLC boosted its stake in shares of Matrix Service (NASDAQ:MTRX) by 8.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,515,000 shares of the company’s stock after buying an additional 115,000 shares during the quarter. Matrix Service accounts for about 2.0% of Harvey Partners LLC’s holdings, making the stock its 23rd biggest holding. Harvey Partners LLC owned approximately 5.50% of Matrix Service worth $17,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Verition Fund Management LLC lifted its holdings in shares of Matrix Service by 5.8% during the 3rd quarter. Verition Fund Management LLC now owns 22,639 shares of the company’s stock worth $261,000 after acquiring an additional 1,239 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Matrix Service by 129.1% during the third quarter. MetLife Investment Management LLC now owns 15,519 shares of the company’s stock worth $179,000 after purchasing an additional 8,744 shares during the period. BNP Paribas Financial Markets grew its holdings in Matrix Service by 112.9% during the third quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock valued at $106,000 after purchasing an additional 4,860 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Matrix Service by 2.9% during the third quarter. Dynamic Technology Lab Private Ltd now owns 56,498 shares of the company’s stock valued at $651,000 after purchasing an additional 1,573 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Matrix Service by 44.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,302 shares of the company’s stock worth $1,917,000 after acquiring an additional 51,433 shares during the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTRX has been the subject of several analyst reports. StockNews.com raised shares of Matrix Service from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. DA Davidson reiterated a “buy” rating and issued a $18.00 target price on shares of Matrix Service in a report on Thursday, September 26th.

Matrix Service Trading Up 1.1 %

Shares of Matrix Service stock opened at $13.40 on Tuesday. Matrix Service has a twelve month low of $8.61 and a twelve month high of $13.90. The business’s 50 day simple moving average is $12.05 and its 200-day simple moving average is $10.83.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). Matrix Service had a negative return on equity of 19.56% and a negative net margin of 4.46%. The business had revenue of $165.58 million for the quarter, compared to the consensus estimate of $183.90 million. During the same period in the previous year, the business posted ($0.21) earnings per share. Research analysts anticipate that Matrix Service will post -0.04 earnings per share for the current fiscal year.

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.