MRC Global Inc. $MRC Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in MRC Global Inc. by 14.6%, selling 331,043 shares and retaining approximately 1,930,321 shares, valued at $22.16 million.
• Several institutional investors, including Meeder Asset Management Inc. and EP Wealth Advisors LLC, have increased their positions in MRC Global during the same quarter.
• Analysts generally hold a positive outlook on MRC Global, with Susquehanna raising the target price to $15.00 and a consensus rating of "Moderate Buy".

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in MRC Global Inc. (NYSE:MRC - Free Report) by 14.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,930,321 shares of the oil and gas company's stock after selling 331,043 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 2.24% of MRC Global worth $22,160,000 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 MRC. Lord Abbett & CO. LLC raised its stake in MRC Global by 336.0% in the first quarter. Lord Abbett & CO. LLC now owns 3,498,499 shares of the oil and gas company's stock valued at $40,163,000 after buying an additional 2,696,044 shares during the last quarter. Nuveen LLC acquired a new position in shares of MRC Global in the first quarter valued at about $14,081,000. Pacer Advisors Inc. acquired a new position in shares of MRC Global in the first quarter valued at about $12,433,000. Cramer Rosenthal Mcglynn LLC increased its holdings in shares of MRC Global by 64.0% in 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 purchasing an additional 508,723 shares during the period. Finally, Kestrel Investment Management Corp acquired a new position in shares of MRC Global in the first quarter valued at about $4,602,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

MRC Global Price Performance

Shares of NYSE MRC traded up $0.31 during midday trading on Thursday, hitting $14.86. The stock had a trading volume of 562,155 shares, compared to its average volume of 826,885. The company has a market capitalization of $1.26 billion, a PE ratio of -61.92 and a beta of 1.72. The stock has a 50 day simple moving average of $14.19 and a 200-day simple moving average of $12.74. MRC Global Inc. has a 1 year low of $9.23 and a 1 year high of $15.59. The company has a quick ratio of 1.00, a current ratio of 1.84 and a debt-to-equity ratio of 0.83.

MRC Global (NYSE:MRC - Get Free Report) last announced its quarterly earnings data 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. MRC Global had a positive return on equity of 11.81% and a negative net margin of 0.10%.The firm had revenue of $798.00 million for the quarter, compared to the consensus estimate of $784.60 million. During the same quarter last year, the business posted $0.28 earnings per share. The firm's revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts expect that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Zacks Research raised MRC Global to a "hold" rating in a report on Friday, August 8th. Stifel Nicolaus cut their price objective on MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Monday, July 21st. Wall Street Zen raised MRC Global from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Susquehanna raised their target price on MRC Global from $14.00 to $15.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.00.

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.