Bridgeway Capital Management LLC Acquires 91,680 Shares of MRC Global Inc. $MRC

Key Points

• Bridgeway Capital Management LLC increased its stake in MRC Global Inc. by 15.3% during the first quarter, acquiring an additional 91,680 shares, bringing its total ownership to approximately $7.95 million.
• Several other investors also made significant increases in their holdings in MRC Global, with 94.97% of the stock now owned by institutional investors.
• MRC Global reported better-than-expected quarterly earnings, with an EPS of $0.25, exceeding analysts' estimates of $0.23, despite a 4.1% decline in revenue compared to the previous year.

Bridgeway Capital Management LLC boosted its stake in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 15.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 692,694 shares of the oil and gas company's stock after purchasing an additional 91,680 shares during the period. Bridgeway Capital Management LLC owned about 0.80% of MRC Global worth $7,952,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. grew its stake in shares of MRC Global by 24.7% in the 1st quarter. Meeder Asset Management Inc. now owns 5,462 shares of the oil and gas company's stock valued at $63,000 after buying an additional 1,081 shares in the last quarter. Hsbc Holdings PLC lifted its stake in MRC Global by 3.7% in the fourth quarter. Hsbc Holdings PLC now owns 34,562 shares of the oil and gas company's stock valued at $440,000 after acquiring an additional 1,234 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in MRC Global by 14.0% in the first quarter. EP Wealth Advisors LLC now owns 17,885 shares of the oil and gas company's stock valued at $205,000 after acquiring an additional 2,203 shares during the last quarter. Martingale Asset Management L P grew its position in MRC Global by 1.6% in the first quarter. Martingale Asset Management L P now owns 198,065 shares of the oil and gas company's stock worth $2,274,000 after acquiring an additional 3,112 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of MRC Global during the 1st quarter worth $44,000. Hedge funds and other institutional investors own 94.97% of the company's stock.

Wall Street Analyst Weigh In

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

MRC Global Stock Performance

NYSE:MRC traded down $0.30 during mid-day trading on Monday, hitting $14.81. 405,401 shares of the company's stock traded hands, compared to its average volume of 833,413. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -61.69 and a beta of 1.72. The firm has a 50 day moving average of $14.13 and a two-hundred day moving average of $12.69. 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 Inc. has a 12 month low of $9.23 and a 12 month high of $15.59.

MRC Global (NYSE:MRC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. The company had revenue of $798.00 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. On average, equities analysts forecast that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

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.