Vanguard Group Inc. Has $107.05 Million Position in MRC Global Inc. $MRC

Key Points

• Vanguard Group Inc. reduced its stake in MRC Global Inc. by 0.7% in Q1, owning 9,324,788 shares valued at approximately $107 million.
• Several institutional investors increased their holdings in MRC Global during the same period, with Allspring Global Investments boosting their stake by 52.9%.
• MRC Global reported earnings of $0.25 per share for the most recent quarter, exceeding analyst expectations of $0.23, despite a 4.1% decline in year-over-year revenue.

Vanguard Group Inc. cut its stake in MRC Global Inc. (NYSE:MRC - Free Report) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,324,788 shares of the oil and gas company's stock after selling 65,226 shares during the period. Vanguard Group Inc. owned 10.82% of MRC Global worth $107,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC raised its stake in shares of MRC Global by 821.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company's stock worth $34,000 after acquiring an additional 2,406 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of 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 acquiring an additional 1,081 shares during the last quarter. Quantinno Capital Management LP bought a new position in shares of MRC Global in the fourth quarter worth about $129,000. GAMMA Investing LLC raised its stake in shares of MRC Global by 1,576.2% in the first quarter. GAMMA Investing LLC now owns 14,063 shares of the oil and gas company's stock worth $161,000 after acquiring an additional 13,224 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of MRC Global by 35.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 14,657 shares of the oil and gas company's stock worth $187,000 after acquiring an additional 3,855 shares during the last quarter. 94.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

MRC Global Trading Up 1.5%

NYSE MRC traded up $0.22 during trading on Thursday, reaching $15.35. 341,920 shares of the stock traded hands, compared to its average volume of 710,164. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -63.98 and a beta of 1.65. The stock's 50-day moving average price is $13.93 and its 200 day moving average price is $12.62. The company has a quick ratio of 1.00, a current ratio of 1.84 and a debt-to-equity ratio of 0.83. 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 issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. The firm 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 business's revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 earnings per share. Analysts predict that MRC Global Inc. will post 0.86 EPS for the current year.

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.