Millennium Management LLC Decreases Stock Position in MRC Global Inc. (NYSE:MRC)

Millennium Management LLC reduced its position in MRC Global Inc. (NYSE:MRC - Free Report) by 77.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 146,989 shares of the oil and gas company's stock after selling 500,915 shares during the quarter. Millennium Management LLC owned approximately 0.17% of MRC Global worth $1,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Huntington National Bank bought a new position in shares of MRC Global in the fourth quarter worth $34,000. Sterling Capital Management LLC boosted its stake 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 valued at $34,000 after buying an additional 2,406 shares during the period. Meeder Asset Management Inc. bought a new stake in MRC Global during the fourth quarter valued at $56,000. Longboard Asset Management LP bought a new stake in MRC Global during the fourth quarter valued at $134,000. Finally, Ieq Capital LLC bought a new stake in MRC Global during the fourth quarter valued at $187,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MRC has been the subject of several research analyst reports. Loop Capital dropped their price target on MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Wall Street Zen lowered MRC Global from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Susquehanna dropped their price target 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. Finally, Stifel Nicolaus lifted their price target on MRC Global from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th.

MRC Global Trading Up 1.4%

Shares of MRC traded up $0.18 during trading hours on Friday, hitting $12.78. The company had a trading volume of 513,370 shares, compared to its average volume of 644,887. The firm has a market cap of $1.10 billion, a P/E ratio of 14.68 and a beta of 1.61. The stock's 50 day moving average price is $11.65 and its 200 day moving average price is $12.59. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. 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 released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.08 by $0.06. The firm had revenue of $712.00 million for 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 company's quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 earnings per share. On average, research analysts predict 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.