Northern Trust Corp Lowers Stock Holdings in MRC Global Inc. $MRC

Key Points

• Northern Trust Corp reduced its holding in MRC Global Inc. by 3.8%, selling 32,738 shares and now owning approximately 828,354 shares valued at $9.51 million.
• MRC Global reported a quarterly earnings per share (EPS) of $0.25, exceeding analyst expectations, with a revenue of $798 million, although it experienced a 4.1% decline year-over-year.
• The stock's average analyst rating is a "Moderate Buy", with target prices ranging from $15.00 to $16.00 following recent upgrades and adjustments by various research analysts.

Northern Trust Corp reduced its stake in MRC Global Inc. (NYSE:MRC - Free Report) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 828,354 shares of the oil and gas company's stock after selling 32,738 shares during the period. Northern Trust Corp owned approximately 0.96% of MRC Global worth $9,510,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MRC. Summit Securities Group LLC purchased a new position in shares of MRC Global in the 1st quarter worth $44,000. Meeder Asset Management Inc. grew its stake 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 buying an additional 1,081 shares in the last quarter. Quantinno Capital Management LP purchased a new position in shares of MRC Global in the 4th quarter worth $129,000. GAMMA Investing LLC grew its stake in shares of MRC Global by 1,576.2% in the 1st quarter. GAMMA Investing LLC now owns 14,063 shares of the oil and gas company's stock worth $161,000 after buying an additional 13,224 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of MRC Global in the 1st quarter worth $165,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MRC has been the subject of a number of recent research reports. Wall Street Zen raised shares of MRC Global from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Zacks Research raised shares of MRC Global to a "hold" rating in a research note on Friday, August 8th. Susquehanna lifted their price objective 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. Finally, Stifel Nicolaus dropped 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 note on Monday, July 21st. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.

MRC Global Trading Down 2.0%

Shares of MRC stock traded down $0.30 during trading hours on Monday, reaching $14.81. 405,401 shares of the stock were exchanged, compared to its average volume of 488,370. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -61.69 and a beta of 1.72. The company has a current ratio of 1.84, a quick ratio of 1.00 and a debt-to-equity ratio of 0.83. MRC Global Inc. has a 12-month low of $9.23 and a 12-month high of $15.59. The company's 50-day moving average price is $14.15 and its 200-day moving average price is $12.71.

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 (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The company 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 quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company 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.

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.