Algert Global LLC Acquires Shares of 21,680 MRC Global Inc. $MRC

Key Points

• Algert Global LLC acquired 21,680 shares of MRC Global Inc., valued at approximately $249,000, during the first quarter of the year.
• MRC Global reported earnings of $0.25 per share for the quarter, surpassing analysts' expectations of $0.23, and had a revenue of $798 million, despite a 4.1% year-over-year decline.
• The stock has seen recent analyst upgrades, with a consensus rating of "Moderate Buy" and a target price of $16.00

Algert Global LLC acquired a new position in MRC Global Inc. (NYSE:MRC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,680 shares of the oil and gas company's stock, valued at approximately $249,000.

Several other large investors have also added to or reduced their stakes in MRC. Wells Fargo & Company MN lifted its holdings in MRC Global by 27.2% during the fourth quarter. Wells Fargo & Company MN now owns 50,287 shares of the oil and gas company's stock valued at $643,000 after purchasing an additional 10,759 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in MRC Global by 35.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 14,657 shares of the oil and gas company's stock valued at $187,000 after purchasing an additional 3,855 shares in the last quarter. Raymond James Financial Inc. purchased a new position in MRC Global during the fourth quarter valued at approximately $658,000. Marshall Wace LLP purchased a new position in MRC Global during the fourth quarter valued at approximately $405,000. Finally, Dimensional Fund Advisors LP lifted its holdings in MRC Global by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,827,433 shares of the oil and gas company's stock valued at $48,914,000 after purchasing an additional 164,973 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

MRC Global Price Performance

MRC traded up $0.22 during trading hours on Thursday, hitting $15.35. The company's stock had a trading volume of 341,920 shares, compared to its average volume of 710,164. The business's 50-day moving average price is $13.93 and its 200-day moving average price is $12.62. MRC Global Inc. has a 12 month low of $9.23 and a 12 month high of $15.59. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -63.98 and a beta of 1.65. The company has a current ratio of 1.84, a quick ratio of 1.00 and a debt-to-equity ratio of 0.83.

MRC Global (NYSE:MRC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. MRC Global had a negative net margin of 0.10% and a positive return on equity of 11.81%. The business had revenue of $798.00 million for the quarter, compared to analysts' expectations of $784.60 million. During the same quarter in the previous year, the business posted $0.28 earnings per share. The business's revenue was down 4.1% compared to the same quarter last year. Sell-side analysts expect that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

MRC has been the topic of several recent analyst reports. Stifel Nicolaus reduced their price objective on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Wall Street Zen upgraded shares of MRC Global from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Zacks Research upgraded shares of MRC Global to a "hold" rating in a research report on Friday, August 8th. Finally, Susquehanna lifted their price objective on shares of MRC Global from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $16.00.

MRC Global Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.