Charles Schwab Investment Management Inc. Has $10.85 Million Stock Position in MRC Global Inc. $MRC

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. lessened its holdings in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 8.8% in the first quarter, according to its most recent filing with the 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 about 1.10% of MRC Global worth $10,847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in shares of MRC Global by 24.7% in the 1st quarter. Meeder Asset Management Inc. now owns 5,462 shares of the oil and gas company's stock worth $63,000 after acquiring an additional 1,081 shares during the last quarter. Quantinno Capital Management LP bought a new position in MRC Global during the fourth quarter valued at about $129,000. GAMMA Investing LLC raised its holdings in 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 in the last quarter. Envestnet Asset Management Inc. boosted its holdings in MRC Global by 35.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 14,657 shares of the oil and gas company's stock valued at $187,000 after acquiring an additional 3,855 shares during the period. Finally, Haven Private LLC bought a new position in shares of MRC Global in the first quarter worth about $199,000. Institutional investors own 94.97% of the company's stock.

MRC Global Trading Down 1.7%

Shares of NYSE:MRC traded down $0.26 during trading on Friday, hitting $15.08. 272,012 shares of the company's stock were exchanged, compared to its average volume of 686,289. MRC Global Inc. has a 1-year low of $9.23 and a 1-year high of $15.59. The firm has a 50-day moving average price of $13.97 and a two-hundred day moving average price of $12.63. 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 market cap of $1.28 billion, a P/E ratio of -62.83 and a beta of 1.65.

MRC Global (NYSE:MRC - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.25 earnings per share 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 negative net margin of 0.10% and a positive return on equity of 11.81%. MRC Global's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. Equities analysts predict that MRC Global Inc. will post 0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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