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Matrix Service Company Set to Join Russell 3000® Index
TULSA, Okla., July 01, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (NASDAQ: MTRX) (“Matrix Service Company,” “Matrix”, or “the Company”), a leading
About this update from Matrix Service Company
[{"type":"text","content":"TULSA, Okla., July 01, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (NASDAQ: MTRX) (“Matrix Service Company,” “Matrix”, or “the Company”), a leading engineering and construction contractor to the energy and industrial markets, today announced its addition to the Russell 3000® Index, effective after the close of the U.S. equity markets on June 28, 2024. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes. “Our addition to the Russell 3000 is an important milestone for our entire organization, and a testament to our collective focus on long-term value creation,” said Matrix Service Company president and CEO John R. Hewitt. “Matrix continues to build a leading specialty engineering services platform uniquely positioned to support a deep pipeline of infrastructure-related projects across diverse, growing end-markets, as reflected by our record backlog of nearly $1.5 billion as of March 31, 2024. We look forward to introducing our investment thesis to new pools of institutional capital through our inclusion in the Index.” Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of December 2023, about $10.5 trillion in assets are benchmarked against the Russell U.S. indexes, which belong to FTSE Russell, a prominent global index provider. ABOUT MATRIX SERVICE COMPANY Matrix Service Company (Nasdaq: MTRX), through its subsidiaries, is a leading North American industrial engineering, construction, and maintenance contractor headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea. The Company reports its financial results in three key operating segments: Storage and Terminal Solutions, Utility and Power Infrastructure, and Process and Industrial Facilities. With a focus on sustainability, building strong Environment, Social and Governance (ESG) practices, and living our core values, Matrix ranks among...