Millennium Management LLC Has $1.88 Million Holdings in MRC Global Inc. (NYSE:MRC)

Millennium Management LLC trimmed its stake in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 77.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,989 shares of the oil and gas company's stock after selling 500,915 shares during the period. Millennium Management LLC owned about 0.17% of MRC Global worth $1,879,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Huntington National Bank purchased a new stake in shares of MRC Global during the fourth quarter valued at $34,000. Sterling Capital Management LLC lifted its holdings in shares of 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 valued at $34,000 after purchasing an additional 2,406 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of MRC Global during the fourth quarter valued at $56,000. Longboard Asset Management LP purchased a new stake in shares of MRC Global during the fourth quarter valued at $134,000. Finally, Ieq Capital LLC purchased a new stake in shares of MRC Global during the fourth quarter valued at $187,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

MRC Global Stock Down 0.9%

MRC Global stock traded down $0.12 during mid-day trading on Wednesday, hitting $12.57. The company's stock had a trading volume of 603,045 shares, compared to its average volume of 645,212. The firm's 50 day moving average is $11.59 and its 200 day moving average is $12.60. The company has a market cap of $1.08 billion, a PE ratio of 14.45 and a beta of 1.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11. MRC Global Inc. has a 52-week low of $9.23 and a 52-week high of $15.41.

MRC Global (NYSE:MRC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. The firm had revenue of $712.00 million during the quarter, compared to the consensus estimate of $710.00 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business's revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS. On average, analysts anticipate that MRC Global Inc. will post 0.86 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MRC shares. Loop Capital reduced their target price on MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Wall Street Zen downgraded MRC Global from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Stifel Nicolaus increased their price objective on MRC Global from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Susquehanna reduced 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.

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.