Azarias Capital Management L.P. Sells 220,154 Shares of Matrix Service (NASDAQ:MTRX)

Azarias Capital Management L.P. trimmed its holdings in shares of Matrix Service (NASDAQ:MTRX) by 15.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,218,105 shares of the company’s stock after selling 220,154 shares during the quarter. Matrix Service comprises approximately 6.5% of Azarias Capital Management L.P.’s holdings, making the stock its 3rd largest holding. Azarias Capital Management L.P.’s holdings in Matrix Service were worth $14,581,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Matrix Service during the 4th quarter worth approximately $45,000. Quarry LP purchased a new stake in Matrix Service during the third quarter worth $53,000. BNP Paribas Financial Markets grew its position 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 buying an additional 4,860 shares during the period. SG Americas Securities LLC purchased a new position in Matrix Service in the third quarter valued at $108,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Matrix Service in the second quarter worth about $110,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Matrix Service Stock Performance

Matrix Service stock opened at $15.37 on Thursday. The company’s fifty day moving average price is $13.28 and its 200 day moving average price is $11.85. The stock has a market capitalization of $423.60 million, a P/E ratio of -12.60 and a beta of 1.28. Matrix Service has a 1 year low of $8.61 and a 1 year high of $15.75.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that Matrix Service will post -0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MTRX shares. StockNews.com upgraded Matrix Service from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 6th. DA Davidson raised their price objective on Matrix Service from $18.00 to $20.00 and gave the company a “buy” rating in a report 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.