Saturna Capital Corp Has $342,000 Position in Matrix Service (NASDAQ:MTRX)

Saturna Capital Corp reduced its stake in Matrix Service (NASDAQ:MTRX) by 41.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 29,694 shares of the company’s stock after selling 21,226 shares during the period. Saturna Capital Corp’s holdings in Matrix Service were worth $342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC bought a new stake in shares of Matrix Service in the second quarter valued at about $83,000. SG Americas Securities LLC acquired a new stake in shares of Matrix Service during the 3rd quarter worth approximately $108,000. The Manufacturers Life Insurance Company bought a new position in Matrix Service during the 2nd quarter valued at $110,000. Net Worth Advisory Group purchased a new stake in shares of Matrix Service during the 3rd quarter valued at $125,000. Finally, XTX Topco Ltd increased its position in shares of Matrix Service by 66.3% during the 2nd quarter. XTX Topco Ltd now owns 20,932 shares of the company’s stock valued at $208,000 after purchasing an additional 8,344 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on MTRX. DA Davidson reissued a “buy” rating and issued a $18.00 price objective on shares of Matrix Service in a report on Thursday, September 26th. StockNews.com downgraded Matrix Service from a “buy” rating to a “hold” rating in a research report on Friday, November 8th.

Matrix Service Price Performance

MTRX opened at $12.80 on Wednesday. Matrix Service has a 52-week low of $8.61 and a 52-week high of $13.90. The stock’s 50 day moving average price is $11.21 and its 200-day moving average price is $10.64.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $165.58 million during the quarter, compared to analysts’ expectations of $183.90 million. During the same period in the previous year, the company earned ($0.21) earnings per share. As a group, sell-side analysts predict 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.