LPL Financial LLC Has $1.82 Million Stake in 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 raised its stake in MRC Global Inc. (NYSE:MRC - Free Report) by 97.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,490 shares of the oil and gas company's stock after purchasing an additional 78,086 shares during the period. LPL Financial LLC owned approximately 0.18% of MRC Global worth $1,819,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MRC. Wells Fargo & Company MN boosted its holdings in MRC Global by 27.2% in the 4th quarter. Wells Fargo & Company MN now owns 50,287 shares of the oil and gas company's stock valued at $643,000 after purchasing an additional 10,759 shares during the period. Envestnet Asset Management Inc. boosted its holdings in MRC Global by 35.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 14,657 shares of the oil and gas company's stock valued at $187,000 after purchasing an additional 3,855 shares during the period. Cerity Partners LLC bought a new stake in MRC Global in the 4th quarter valued at $328,000. Raymond James Financial Inc. bought a new stake in MRC Global in the 4th quarter valued at $658,000. Finally, Sterling Capital Management LLC boosted its holdings in MRC Global by 821.2% in the 4th 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 period. 94.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

MRC Global Price Performance

Shares of MRC Global stock traded up $0.29 during mid-day trading on Tuesday, reaching $15.07. 588,981 shares of the stock were exchanged, compared to its average volume of 741,806. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -62.77 and a beta of 1.65. 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 firm has a 50-day simple moving average of $13.83 and a 200 day simple moving average of $12.58. MRC Global Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $15.59.

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

MRC Global 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.