American Century Companies Inc. Purchases 324,110 Shares of MRC Global Inc. $MRC

Key Points

• American Century Companies Inc. increased its stake in MRC Global Inc. by 14.2%, holding 2,605,756 shares valued at approximately $29.91 million as of the latest SEC filing.
• MRC Global reported a positive EPS of $0.25 for the quarter, exceeding analysts' expectations, despite a 4.1% decline in revenue year-over-year.
• Institutional investors own 94.97% of MRC Global's stock, indicating strong market confidence, while research analysts maintain a consensus rating of "Moderate Buy" with an average price target of $16.00.

American Century Companies Inc. lifted its position in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 14.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,605,756 shares of the oil and gas company's stock after purchasing an additional 324,110 shares during the period. American Century Companies Inc. owned 3.03% of MRC Global worth $29,914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in MRC. Wells Fargo & Company MN increased its stake in shares of 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 worth $643,000 after purchasing an additional 10,759 shares during the period. Envestnet Asset Management Inc. grew its position 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 worth $187,000 after buying an additional 3,855 shares in the last quarter. Cerity Partners LLC acquired a new stake in MRC Global during the fourth quarter worth approximately $328,000. Raymond James Financial Inc. acquired a new stake in MRC Global during the fourth quarter worth approximately $658,000. Finally, Sterling Capital Management LLC grew its position in MRC Global by 821.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company's stock worth $34,000 after buying an additional 2,406 shares in the last quarter. Institutional investors own 94.97% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MRC. Stifel Nicolaus reduced their price target on MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Susquehanna increased their price target on MRC Global from $14.00 to $15.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. Wall Street Zen raised MRC Global from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Zacks Research raised MRC Global to a "hold" rating in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, MRC Global has a consensus rating of "Moderate Buy" and an average target price of $16.00.

MRC Global Price Performance

Shares of MRC stock traded up $0.06 during trading hours on Wednesday, reaching $15.13. The company's stock had a trading volume of 370,764 shares, compared to its average volume of 730,898. The firm's 50 day simple moving average is $13.88 and its 200-day simple moving average is $12.60. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -63.02 and a beta of 1.65. MRC Global Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $15.59. The company has a quick ratio of 1.00, a current ratio of 1.84 and a debt-to-equity ratio of 0.83.

MRC Global (NYSE:MRC - Get Free Report) last issued its earnings results 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. The firm had revenue of $798.00 million for the quarter, compared to the consensus estimate of $784.60 million. MRC Global had a positive return on equity of 11.81% and a negative net margin of 0.10%.The company's revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. Sell-side analysts forecast that MRC Global Inc. will post 0.86 earnings per share for the current year.

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.