MRC Global Inc. $MRC Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in MRC Global Inc. by 8.8%, selling 91,231 shares, and now holds 944,831 shares valued at approximately $10.8 million.
• MRC Global reported $0.25 EPS for the last quarter, exceeding estimates, but its revenue declined 4.1% year-over-year.
• Analysts rate MRC Global as a "Moderate Buy" with a consensus price target of $16.00.

Charles Schwab Investment Management Inc. decreased its position in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 8.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 944,831 shares of the oil and gas company's stock after selling 91,231 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.10% of MRC Global worth $10,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in MRC Global by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,827,433 shares of the oil and gas company's stock valued at $48,914,000 after acquiring an additional 164,973 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in MRC Global by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,261,364 shares of the oil and gas company's stock worth $28,900,000 after purchasing an additional 121,601 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in MRC Global during the 1st quarter worth $12,433,000. Northern Trust Corp boosted its stake in MRC Global by 8.3% during the 4th quarter. Northern Trust Corp now owns 861,092 shares of the oil and gas company's stock worth $11,005,000 after purchasing an additional 66,319 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in MRC Global during the 4th quarter worth $10,255,000. Institutional investors and hedge funds own 94.97% of the company's stock.

MRC Global Stock Up 5.6%

NYSE MRC opened at $14.9680 on Monday. MRC Global Inc. has a 52 week low of $9.23 and a 52 week 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. The business's fifty day simple moving average is $13.74 and its 200-day simple moving average is $12.55. The firm has a market cap of $1.27 billion, a PE ratio of -62.37 and a beta of 1.65.

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 the consensus estimate of $0.23 by $0.02. The business had revenue of $798.00 million for the quarter, compared to analyst estimates of $784.60 million. MRC Global had a positive return on equity of 11.81% and a negative net margin of 0.10%.The company's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. As a group, equities analysts anticipate that MRC Global Inc. will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

MRC has been the topic of several recent research reports. Zacks Research raised shares of MRC Global to a "hold" rating in a research note on Friday, August 8th. Stifel Nicolaus lowered 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, Susquehanna lifted their target price on shares of MRC Global from $14.00 to $15.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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