Bank of New York Mellon Corp Grows Position in Mistras Group, Inc. (NYSE:MG)

Bank of New York Mellon Corp raised its stake in shares of Mistras Group, Inc. (NYSE:MG) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,851 shares of the technology company’s stock after buying an additional 2,033 shares during the quarter. Bank of New York Mellon Corp owned about 0.21% of Mistras Group worth $578,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC boosted its stake in Mistras Group by 5.1% during the 4th quarter. Empowered Funds LLC now owns 203,302 shares of the technology company’s stock valued at $1,842,000 after purchasing an additional 9,788 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of Mistras Group during the fourth quarter valued at $50,000. JPMorgan Chase & Co. boosted its position in shares of Mistras Group by 554.4% during the third quarter. JPMorgan Chase & Co. now owns 62,512 shares of the technology company’s stock valued at $711,000 after buying an additional 52,960 shares during the last quarter. Barclays PLC boosted its holdings in Mistras Group by 118.5% in the third quarter. Barclays PLC now owns 37,760 shares of the technology company’s stock worth $430,000 after purchasing an additional 20,482 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Mistras Group by 0.9% in the third quarter. Geode Capital Management LLC now owns 453,389 shares of the technology company’s stock valued at $5,156,000 after acquiring an additional 4,014 shares during the period. 74.92% of the stock is owned by hedge funds and other institutional investors.

Mistras Group Stock Performance

Shares of MG opened at $10.85 on Friday. Mistras Group, Inc. has a 52 week low of $7.45 and a 52 week high of $12.44. The company has a quick ratio of 1.55, a current ratio of 1.68 and a debt-to-equity ratio of 0.93. The stock has a market cap of $336.57 million, a price-to-earnings ratio of 30.99, a PEG ratio of 0.73 and a beta of 1.67. The business has a 50-day simple moving average of $10.00 and a two-hundred day simple moving average of $9.94.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Mistras Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 11th.

Insiders Place Their Bets

In other Mistras Group news, Director Nicholas Debenedictis purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were acquired at an average cost of $9.84 per share, with a total value of $98,400.00. Following the completion of the acquisition, the director now directly owns 217,511 shares in the company, valued at $2,140,308.24. The trade was a 4.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.30% of the stock is owned by company insiders.

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.