Mistras Group (MG) Hits New 12-Month Low After Earnings Miss

Mistras Group Inc (NYSE:MG)’s share price reached a new 52-week low during trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $16.46 and last traded at $17.14, with a volume of 2346 shares trading hands. The stock had previously closed at $19.30.

The technology company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). Mistras Group had a return on equity of 6.34% and a net margin of 0.38%. The company had revenue of $182.17 million during the quarter, compared to the consensus estimate of $181.50 million.

A number of research firms have commented on MG. Zacks Investment Research raised shares of Mistras Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 11th. ValuEngine raised shares of Mistras Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.00.

In other Mistras Group news, insider Sotirios J. Vahaviolos sold 321,000 shares of Mistras Group stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $21.92, for a total value of $7,036,320.00. Following the completion of the sale, the insider now owns 10,244,313 shares of the company’s stock, valued at approximately $224,555,340.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 43.50% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Mistras Group by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,298,205 shares of the technology company’s stock valued at $24,510,000 after acquiring an additional 53,414 shares during the period. BlackRock Inc. grew its position in shares of Mistras Group by 6.5% during the 2nd quarter. BlackRock Inc. now owns 1,134,033 shares of the technology company’s stock valued at $21,410,000 after acquiring an additional 69,293 shares during the period. Bernzott Capital Advisors grew its position in shares of Mistras Group by 16.4% during the 2nd quarter. Bernzott Capital Advisors now owns 984,906 shares of the technology company’s stock valued at $18,595,000 after acquiring an additional 139,031 shares during the period. Rutabaga Capital Management LLC MA grew its position in shares of Mistras Group by 10.0% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 921,404 shares of the technology company’s stock valued at $17,396,000 after acquiring an additional 84,024 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in shares of Mistras Group by 0.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 907,995 shares of the technology company’s stock valued at $19,676,000 after acquiring an additional 3,549 shares during the period. 59.06% of the stock is owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.01 and a current ratio of 2.14. The stock has a market cap of $553.61 million, a PE ratio of 39.80, a price-to-earnings-growth ratio of 0.75 and a beta of 1.31.

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About Mistras Group (NYSE:MG)

Mistras Group, Inc provides technology-enabled asset protection solutions worldwide. The company operates through three segments: Services, International, and Products and Systems. It offers traditional non-destructive testing, and inspection and engineering services; and designs, manufactures, sells, installs, and services acoustic emission (AE) sensors, instruments, and turn-key systems used for monitoring and testing materials, pressure components, processes, and structures.

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