Nuveen Asset Management LLC Sells 47584 Shares of Matrix Service Company (MTRX)

Xavier Trudeau
Août 13, 2017

Zacks Investment Research cut shares of Matrix Service Company (NASDAQ:MTRX) from a hold rating to a sell rating in a research note issued to investors on Tuesday, July 18th.

Matrix Service Company, launched on October 13, 1989, is involved in providing engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. Nuveen Asset Management LLC owned 0.08% of Matrix Service worth $368,000 at the end of the most recent reporting period.

A number of hedge funds have recently added to or reduced their stakes in MTRX. KAMES CAPITAL plc now owns 49,964 shares of the oil and gas company's stock valued at $822,000 after buying an additional 18,315 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new position in Matrix Service during the second quarter worth $3,875,000. Foundry Partners LLC boosted its stake in shares of Matrix Service by 41.0% in the first quarter. Ameriprise Financial Inc. now owns 340,495 shares of the oil and gas company's stock worth $5,619,000 after buying an additional 207,222 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Matrix Service by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the oil and gas company's stock worth $178,000 after buying an additional 100 shares during the period. Norges Bank bought a new stake in shares of Matrix Service during the fourth quarter valued at about $11,799,000. Institutional investors own 91.60% of the company's stock.

Shares of Matrix Service (MTRX) traded down 0.99% on Wednesday, hitting $10.05. Thrivent Financial for Lutherans now owns 14,300 shares of the oil and gas company's stock valued at $325,000 after buying an additional 810 shares during the period. The firm has a 50 day moving average price of $9.63 and a 200 day moving average price of $13.27. Matrix Service has a 12 month low of $7.80 and a 12 month high of $23.45. Matrix Service Company now has a P/E ratio of 27.36 and the market cap is 269.99M.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings results on Tuesday, May 9th.

Several equities analysts have weighed in on MTRX shares. Matrix Service had a net margin of 0.78% and a return on equity of 3.07%. The business had revenue of $251.20 million for the quarter, compared to analysts' expectations of $248.51 million. During the same period past year, the firm posted $0.16 earnings per share. The firm's revenue was down 18.8% compared to the same quarter previous year. On average, equities analysts anticipate that Matrix Service Company will post ($0.01) earnings per share for the current year.

TRADEMARK VIOLATION WARNING: "Matrix Service Company (NASDAQ:MTRX) Upgraded at Zacks Investment Research" was first posted by BNB Daily and is the sole property of of BNB Daily. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of US & global trademark & copyright legislation. The correct version of this news story can be read at https://www.baseball-news-blog.com/2017/08/12/matrix-service-company-nasdaqmtrx-upgraded-by-zacks-investment-research-to-hold-updated-updated-updated.html. TheStreet cut shares of Matrix Service from a "c-" rating to a "d+" rating in a research report on Wednesday, May 24th. Finally, BidaskClub raised shares of Matrix Service from a "sell" rating to a "hold" rating in a report on Saturday, August 5th. ValuEngine cut Matrix Service from a "buy" rating to a "hold" rating in a report on Friday, June 2nd. Stephens reissued a "hold" rating on shares of Matrix Service in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company now has a consensus rating of "Hold" and an average target price of $20.00.

Matrix Service Company, launched on October 13, 1989, is involved in providing engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets.

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