MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 331,043 Shares of MRC Global Inc. $MRC

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. reduced its position in MRC Global Inc. (NYSE:MRC - Free Report) by 14.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 approximately 2.24% of MRC Global worth $22,160,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in MRC. Meeder Asset Management Inc. lifted its position in MRC Global by 24.7% in the first quarter. Meeder Asset Management Inc. now owns 5,462 shares of the oil and gas company's stock worth $63,000 after purchasing an additional 1,081 shares during the period. EP Wealth Advisors LLC lifted its position 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 worth $205,000 after purchasing an additional 2,203 shares during the period. Martingale Asset Management L P lifted 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 purchasing an additional 3,112 shares during the period. Summit Securities Group LLC acquired a new stake in MRC Global in the first quarter worth approximately $44,000. Finally, Comerica Bank lifted its position in MRC Global by 6.1% in the first quarter. Comerica Bank now owns 72,932 shares of the oil and gas company's stock worth $837,000 after purchasing an additional 4,172 shares during the period. 94.97% of the stock is owned by institutional investors.

MRC Global Stock Down 2.8%

MRC Global stock traded down $0.41 during mid-day trading on Friday, hitting $14.43. 421,237 shares of the company's stock were exchanged, compared to its average volume of 448,849. 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 stock has a market cap of $1.23 billion, a P/E ratio of -60.13 and a beta of 1.72. MRC Global Inc. has a 1-year low of $9.23 and a 1-year high of $15.59. The stock has a 50 day moving average of $14.24 and a two-hundred day moving average of $12.77.

MRC Global (NYSE:MRC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The firm had revenue of $798.00 million for the quarter, compared to the consensus estimate of $784.60 million. MRC Global had a negative net margin of 0.10% and a positive return on equity of 11.81%. The business's quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. As a group, analysts anticipate that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MRC shares. Susquehanna upped their target price on MRC Global from $14.00 to $15.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. Stifel Nicolaus cut their target price on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. 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, Zacks Research raised shares of MRC Global to a "hold" rating in a research note on Friday, August 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, MRC Global currently has an average rating of "Moderate Buy" and an average target price of $16.00.

About MRC Global

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.