Lazard Asset Management LLC Invests $1.04 Million in Mistras Group Inc $MG

Lazard Asset Management LLC acquired a new stake in shares of Mistras Group Inc (NYSE:MG) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 70,369 shares of the technology company’s stock, valued at approximately $1,040,000. Lazard Asset Management LLC owned about 0.22% of Mistras Group at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Mistras Group by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,703,681 shares of the technology company’s stock worth $25,180,000 after buying an additional 35,835 shares in the last quarter. Weber Capital Management LLC ADV purchased a new position in shares of Mistras Group during the fourth quarter worth approximately $18,749,000. Royce & Associates LP raised its stake in shares of Mistras Group by 5.8% during the fourth quarter. Royce & Associates LP now owns 1,421,087 shares of the technology company’s stock worth $17,977,000 after acquiring an additional 78,340 shares in the last quarter. IES Holdings Inc. bought a new stake in shares of Mistras Group in the 4th quarter worth approximately $13,660,000. Finally, Invenomic Capital Management LP lifted its holdings in shares of Mistras Group by 0.7% in the 4th quarter. Invenomic Capital Management LP now owns 475,692 shares of the technology company’s stock worth $6,018,000 after acquiring an additional 3,156 shares during the last quarter. 74.92% of the stock is owned by hedge funds and other institutional investors.

Mistras Group Stock Down 0.8%

Shares of Mistras Group stock opened at $15.81 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.67 and a current ratio of 1.81. Mistras Group Inc has a 52-week low of $7.81 and a 52-week high of $19.64. The company’s 50 day moving average price is $17.06 and its 200-day moving average price is $16.22. The stock has a market capitalization of $502.95 million, a price-to-earnings ratio of 22.58, a P/E/G ratio of 0.95 and a beta of 0.89.

Mistras Group (NYSE:MG) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.08 EPS for the quarter. The company had revenue of $169.03 million during the quarter, compared to analyst estimates of $164.25 million. Mistras Group had a net margin of 3.06% and a return on equity of 13.60%. Equities research analysts forecast that Mistras Group Inc will post 1.05 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on MG. Zacks Research lowered shares of Mistras Group from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. Roth Capital initiated coverage on shares of Mistras Group in a research note on Thursday, April 30th. They issued a “buy” rating and a $22.00 price target for the company. Wall Street Zen upgraded shares of Mistras Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mistras Group in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $19.00.

About Mistras Group

Mistras Group, Inc is a global provider of technology-enabled asset protection solutions and services, with a primary focus on nondestructive testing (NDT), inspection, and monitoring of critical infrastructure and industrial assets. The company’s offerings span a wide range of techniques—such as ultrasonic testing, eddy current detection, magnetic particle inspection, radiography and acoustic emission—to help clients in energy, petrochemical, aerospace, manufacturing and other sectors identify and address potential failures before they occur.

In addition to traditional NDT services, Mistras delivers engineered materials solutions, including composite repairs and specialty coatings, along with predictive maintenance and condition monitoring programs.