Springbank Value Partners Lp adds Matrix Service Co (MTRX) to its portfolio

Matrix Service Co (MTRX) : Springbank Value Partners Lp added new position in Matrix Service Co during the most recent quarter end. The investment management firm now holds 1,000 shares of Matrix Service Co which is valued at $16,830 , the company said in a statement filed on Aug 1, 2016 with the SEC.Matrix Service Co makes up approximately 0.03% of Springbank Value Partners Lp’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in MTRX by selling 900 shares or 1.59% in the most recent quarter. The Hedge Fund company now holds 55,688 shares of MTRX which is valued at $937,229.Strs Ohio boosted its stake in MTRX in the latest quarter, The investment management firm added 2,800 additional shares and now holds a total of 219,000 shares of Matrix Service Co which is valued at $3,624,450. Matrix Service Co makes up approx 0.02% of Strs Ohio’s portfolio. Capital One National Association sold out all of its stake in MTRX during the most recent quarter. The investment firm sold 42,628 shares of MTRX which is valued $726,381. Acadian Asset Management sold out all of its stake in MTRX during the most recent quarter. The investment firm sold 60,532 shares of MTRX which is valued $1,031,465.

Matrix Service Co opened for trading at $16.84 and hit $17.54 on the upside on Thursday, eventually ending the session at $17.48, with a gain of 3.86% or 0.65 points. The heightened volatility saw the trading volume jump to 1,53,447 shares. Company has a market cap of $465 M.

On the company’s financial health, Matrix Service Co reported $0.16 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $0.28. The company had revenue of $309.40 million for the quarter, compared to analysts expectations of $317.40 million. The company’s revenue was down -1.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.11 EPS.

Many Wall Street Analysts have commented on Matrix Service Co. Matrix Service Co was Upgraded by Avondale to ” Mkt Outperform” on May 6, 2016.

Matrix Service Company provides engineering fabrication infrastructure construction and maintenance services primarily to the oil gas power petrochemical industrial mining and minerals markets. The Company’s Electrical Infrastructure segment primarily provides construction and maintenance services to a range of power generation facilities such as combined cycle plants and renewable energy installations. The Oil Gas & Chemical segment includes its traditional turnaround activities plant maintenance services and construction in the downstream petroleum industry. Its Storage Solutions segment includes new construction of crude and refined products aboveground storage tanks (ASTs) as well as maintenance services. The Industrial segment includes construction and maintenance work in the iron and steel and mining and minerals industries bulk material handling and fertilizer production facilities as well as work for clients in other industrial markets.

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