Lazard Asset Management LLC Raises Stake in MRC Global Inc. (NYSE:MRC)

Lazard Asset Management LLC raised its position in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 65.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,124 shares of the oil and gas company's stock after buying an additional 55,057 shares during the period. Lazard Asset Management LLC owned about 0.16% of MRC Global worth $1,777,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MRC. Huntington National Bank purchased a new position in MRC Global during the 4th quarter valued at about $34,000. Sterling Capital Management LLC lifted its position in MRC Global by 821.2% during 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 acquiring an additional 2,406 shares during the period. Meeder Asset Management Inc. purchased a new position in MRC Global during the 4th quarter valued at about $56,000. Longboard Asset Management LP purchased a new position in MRC Global during the 4th quarter valued at about $134,000. Finally, Ieq Capital LLC purchased a new position in MRC Global during the 4th quarter valued at about $187,000. Hedge funds and other institutional investors own 94.97% of the company's stock.

MRC Global Stock Performance

NYSE MRC traded down $0.25 during trading hours on Wednesday, hitting $12.43. 538,654 shares of the company's stock traded hands, compared to its average volume of 641,467. The business's fifty day moving average price is $11.49 and its two-hundred day moving average price is $12.67. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.07 billion, a P/E ratio of 14.28 and a beta of 1.63. MRC Global Inc. has a 52 week low of $9.23 and a 52 week high of $15.41.

MRC Global (NYSE:MRC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.06. The company had revenue of $712.00 million during the quarter, compared to analyst estimates of $710.00 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm's quarterly revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 earnings per share. Equities research analysts predict that MRC Global Inc. will post 0.86 EPS for the current year.

Analyst Upgrades and Downgrades

MRC has been the subject of a number of analyst reports. Loop Capital reduced their price objective on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. StockNews.com lowered shares of MRC Global from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Susquehanna reduced their price target on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Finally, Stifel Nicolaus lifted their price target on shares of MRC Global from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th.

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.