Bank of New York Mellon Corp Acquires 10,046 Shares of Mistras Group, Inc. (NYSE:MG)

Bank of New York Mellon Corp raised its holdings in Mistras Group, Inc. (NYSE:MG) by 13.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,988 shares of the technology company’s stock after buying an additional 10,046 shares during the quarter. Bank of New York Mellon Corp owned 0.27% of Mistras Group worth $688,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Heron Bay Capital Management raised its position in Mistras Group by 43.0% in the first quarter. Heron Bay Capital Management now owns 14,907 shares of the technology company’s stock worth $143,000 after purchasing an additional 4,479 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Mistras Group by 5.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 82,663 shares of the technology company’s stock valued at $790,000 after purchasing an additional 4,517 shares during the period. Vanguard Group Inc. raised its holdings in shares of Mistras Group by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 1,201,864 shares of the technology company’s stock worth $11,490,000 after buying an additional 29,140 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Mistras Group by 8.2% during the 1st quarter. Empowered Funds LLC now owns 170,592 shares of the technology company’s stock worth $1,631,000 after buying an additional 12,884 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in Mistras Group by 8.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 45,150 shares of the technology company’s stock valued at $432,000 after buying an additional 3,665 shares in the last quarter. 74.92% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Michael J. Lange sold 24,706 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.02, for a total value of $272,260.12. Following the transaction, the executive vice president now owns 278,003 shares of the company’s stock, valued at approximately $3,063,593.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 12.30% of the company’s stock.

Mistras Group Stock Performance

Mistras Group stock opened at $11.28 on Monday. The firm has a market capitalization of $349.31 million, a P/E ratio of -29.68 and a beta of 1.72. The stock has a fifty day moving average price of $10.56 and a two-hundred day moving average price of $9.40. Mistras Group, Inc. has a 52-week low of $4.96 and a 52-week high of $12.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.69 and a quick ratio of 1.56.

Mistras Group (NYSE:MG) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. Mistras Group had a positive return on equity of 9.19% and a negative net margin of 0.74%. The business had revenue of $189.77 million for the quarter, compared to analyst estimates of $188.30 million. As a group, analysts anticipate that Mistras Group, Inc. will post 0.8 EPS for the current fiscal year.

Mistras Group Profile

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.