Arkadios Wealth Advisors Makes New $367,000 Investment in MRC Global Inc. (NYSE:MRC)

Key Points

• Arkadios Wealth Advisors has made a new investment in MRC Global Inc., purchasing 32,000 shares valued at approximately $367,000 in the first quarter.
• Institutional ownership of MRC Global is significant, with 94.97% of the stock owned by institutional investors and hedge funds.
• MRC Global reported an EPS of $0.14 for the last quarter, exceeding analyst expectations, although its revenue decreased by 11.7% compared to the same quarter last year.

Arkadios Wealth Advisors purchased a new position in MRC Global Inc. (NYSE:MRC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 32,000 shares of the oil and gas company's stock, valued at approximately $367,000.

A number of other institutional investors have also recently made changes to their positions in MRC. Pacer Advisors Inc. bought a new stake in shares of MRC Global in the 1st quarter worth about $12,433,000. Lord Abbett & CO. LLC bought a new position in shares of MRC Global during the fourth quarter valued at approximately $10,255,000. JPMorgan Chase & Co. raised its holdings in shares of MRC Global by 419.3% in the fourth quarter. JPMorgan Chase & Co. now owns 811,787 shares of the oil and gas company's stock worth $10,375,000 after buying an additional 655,455 shares during the period. Norges Bank bought a new position in MRC Global in the 4th quarter valued at $4,555,000. Finally, Barclays PLC lifted its position in shares of MRC Global by 218.0% during the fourth quarter. Barclays PLC now owns 480,669 shares of the oil and gas company's stock worth $6,143,000 after purchasing an additional 329,500 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

MRC Global Stock Down 6.4%

NYSE:MRC traded down $0.93 during mid-day trading on Wednesday, hitting $13.44. 1,784,735 shares of the company's stock traded hands, compared to its average volume of 1,171,888. MRC Global Inc. has a twelve month low of $9.23 and a twelve month high of $15.59. The company has a market capitalization of $1.16 billion, a P/E ratio of -122.14 and a beta of 1.65. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.91 and a current ratio of 1.68. The company has a fifty day moving average of $13.41 and a 200 day moving average of $12.63.

MRC Global (NYSE:MRC - Get Free Report) last released 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 return on equity of 12.82% and a net margin of 0.47%. The business had revenue of $798.00 million during the quarter, compared to analyst estimates of $784.60 million. During the same quarter last year, the business posted $0.28 EPS. The company's revenue was down 4.1% on a year-over-year basis. On average, analysts forecast that MRC Global Inc. will post 0.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MRC shares. Wall Street Zen upgraded shares of MRC Global from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Stifel Nicolaus cut their price target on MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. Finally, Susquehanna dropped their target price on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating on the stock in a report on Monday, April 14th.

MRC Global Company 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.