400,850 Shares in MRC Global Inc. (NYSE:MRC) Purchased by Kestrel Investment Management Corp

Key Points

• Kestrel Investment Management Corp purchased 400,850 shares of MRC Global Inc., valued at approximately $4.6 million, making it the 15th largest position in its portfolio.
• Several institutional investors, including Vanguard Group Inc. and Dimensional Fund Advisors LP, have increased their stakes in MRC Global, reflecting a growing institutional interest in the company.
• MRC Global recently reported earnings of $0.14 per share, exceeding analyst expectations, but experienced a 11.7% year-over-year decline in revenue to $712 million.

Kestrel Investment Management Corp acquired a new position in shares of MRC Global Inc. (NYSE:MRC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 400,850 shares of the oil and gas company's stock, valued at approximately $4,602,000. MRC Global accounts for about 2.8% of Kestrel Investment Management Corp's holdings, making the stock its 15th biggest holding. Kestrel Investment Management Corp owned 0.47% of MRC Global as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of MRC Global by 52.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 23,234 shares of the oil and gas company's stock worth $270,000 after purchasing an additional 8,034 shares during the period. GAMMA Investing LLC lifted its holdings in MRC Global by 1,576.2% in the 1st quarter. GAMMA Investing LLC now owns 14,063 shares of the oil and gas company's stock valued at $161,000 after purchasing an additional 13,224 shares in the last quarter. SG Americas Securities LLC lifted its holdings in MRC Global by 19.6% in the 1st quarter. SG Americas Securities LLC now owns 44,586 shares of the oil and gas company's stock valued at $512,000 after purchasing an additional 7,301 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in MRC Global by 67.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 50,719 shares of the oil and gas company's stock valued at $582,000 after purchasing an additional 20,455 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of MRC Global by 419.3% during the 4th quarter. JPMorgan Chase & Co. now owns 811,787 shares of the oil and gas company's stock worth $10,375,000 after acquiring an additional 655,455 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

MRC Global Price Performance

MRC Global stock traded up $0.11 during trading hours on Monday, hitting $13.98. The stock had a trading volume of 172,706 shares, compared to its average volume of 863,793. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.68 and a quick ratio of 0.91. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -127.14 and a beta of 1.65. MRC Global Inc. has a 1-year low of $9.23 and a 1-year high of $15.59. The stock's fifty day moving average is $13.34 and its two-hundred day moving average is $12.62.

MRC Global (NYSE:MRC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.06. The company had revenue of $712.00 million for the quarter, compared to analyst estimates of $710.00 million. MRC Global had a return on equity of 12.82% and a net margin of 0.47%. MRC Global's revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share. As a group, analysts predict that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MRC. Stifel Nicolaus cut their price objective on MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, July 21st. Susquehanna decreased their price objective on MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Finally, Wall Street Zen upgraded MRC Global from a "hold" rating to a "buy" rating in a research note on Friday, June 6th.

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.