LPL Financial LLC Purchases 78,086 Shares of MRC Global Inc. $MRC

Key Points

• LPL Financial LLC significantly increased its stake in MRC Global Inc. by 97.1% during the first quarter, owning approximately 0.18% of the company's shares valued at $1.8 million.
• Several institutional investors, including Sterling Capital Management LLC and GAMMA Investing LLC, have made substantial investments in MRC Global, indicating strong interest in the company's stock.
• The company reported positive quarterly earnings, with an EPS of $0.25, surpassing analysts' expectations, although revenue decreased by 4.1% year-over-year.

LPL Financial LLC lifted its holdings in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 97.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 158,490 shares of the oil and gas company's stock after acquiring an additional 78,086 shares during the period. LPL Financial LLC owned approximately 0.18% of MRC Global worth $1,819,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in shares of MRC Global by 52.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 23,234 shares of the oil and gas company's stock worth $270,000 after purchasing an additional 8,034 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of MRC Global by 1,576.2% during the first quarter. GAMMA Investing LLC now owns 14,063 shares of the oil and gas company's stock valued at $161,000 after buying an additional 13,224 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of MRC Global by 19.6% during the first quarter. SG Americas Securities LLC now owns 44,586 shares of the oil and gas company's stock valued at $512,000 after buying an additional 7,301 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of MRC Global by 67.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 50,719 shares of the oil and gas company's stock valued at $582,000 after buying an additional 20,455 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of MRC Global by 8.8% during the fourth quarter. BNP Paribas Financial Markets now owns 59,780 shares of the oil and gas company's stock valued at $764,000 after buying an additional 4,831 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

Analyst Upgrades and Downgrades

MRC has been the topic of several analyst reports. Wall Street Zen raised MRC Global from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Zacks Research raised MRC Global to a "hold" rating in a research report on Friday, August 8th. Susquehanna lifted their target price on MRC Global from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus cut their target price 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 analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $16.00.

MRC Global Stock Performance

MRC traded up $0.7880 during midday trading on Friday, reaching $14.9680. The company had a trading volume of 713,808 shares, compared to its average volume of 796,616. MRC Global Inc. has a 12-month low of $9.23 and a 12-month high of $15.59. The business has a 50-day moving average price of $13.74 and a two-hundred day moving average price of $12.57. The stock has a market cap of $1.27 billion, a PE ratio of -62.37 and a beta of 1.65. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.00 and a current ratio of 1.84.

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 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. MRC Global had a negative net margin of 0.10% and a positive return on equity of 11.81%. The company had revenue of $798.00 million for the quarter, compared to analysts' expectations of $784.60 million. During the same quarter in the previous year, the firm posted $0.28 EPS. MRC Global's revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts expect that MRC Global Inc. will post 0.86 earnings per share for the current fiscal 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.