Goldman Sachs Group Inc. Lowers Position in MRC Global Inc. $MRC

Key Points

• Goldman Sachs Group Inc. has reduced its stock position in MRC Global Inc. by 75.7%, selling over a million shares during the first quarter, leaving them with 366,468 shares valued at approximately $4.2 million.
• Multiple institutional investors, including Voya Investment Management and UBS Asset Management, have adjusted their stakes in MRC Global, indicating significant interest from large investment firms.
• MRC Global reported earnings of $0.25 per share for the last quarter, surpassing analyst expectations, but its revenue dropped 4.1% year-over-year to $798 million.

Goldman Sachs Group Inc. decreased its position in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 75.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 366,468 shares of the oil and gas company's stock after selling 1,138,630 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.43% of MRC Global worth $4,207,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Lord Abbett & CO. LLC raised its position in shares of MRC Global by 336.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 3,498,499 shares of the oil and gas company's stock worth $40,163,000 after acquiring an additional 2,696,044 shares in the last quarter. Wellington Management Group LLP increased its stake in MRC Global by 5.4% in the 1st quarter. Wellington Management Group LLP now owns 3,105,144 shares of the oil and gas company's stock valued at $35,647,000 after buying an additional 158,338 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of MRC Global by 14.2% in the 1st quarter. American Century Companies Inc. now owns 2,605,756 shares of the oil and gas company's stock worth $29,914,000 after buying an additional 324,110 shares during the last quarter. Cramer Rosenthal Mcglynn LLC increased its position in shares of MRC Global by 64.0% during the first quarter. Cramer Rosenthal Mcglynn LLC now owns 1,303,210 shares of the oil and gas company's stock valued at $14,961,000 after acquiring an additional 508,723 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of MRC Global during the first quarter valued at approximately $14,081,000. Institutional investors and hedge funds own 94.97% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Zacks Research raised MRC Global to a "hold" rating in a research report on Friday, August 8th. Susquehanna raised their price target on MRC Global from $14.00 to $15.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Wall Street Zen raised shares of MRC Global from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Stifel Nicolaus lowered 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. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, MRC Global has an average rating of "Moderate Buy" and a consensus target price of $16.00.

MRC Global Stock Down 2.5%

MRC Global stock traded down $0.36 during trading hours on Friday, hitting $14.25. 3,095,264 shares of the stock traded hands, compared to its average volume of 725,823. The company has a current ratio of 1.84, a quick ratio of 1.00 and a debt-to-equity ratio of 0.83. The company has a market cap of $1.21 billion, a PE ratio of -59.38 and a beta of 1.72. The firm's 50-day moving average price is $14.39 and its two-hundred day moving average price is $12.88. MRC Global Inc. has a one year low of $9.23 and a one year high of $15.59.

MRC Global (NYSE:MRC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The company 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 firm's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 EPS. On average, research analysts forecast that MRC Global Inc. will post 0.86 EPS for the current 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.