Nuveen Asset Management LLC Sells 253,266 Shares of MRC Global Inc. (NYSE:MRC)

Nuveen Asset Management LLC lessened its stake in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 16.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,251,147 shares of the oil and gas company's stock after selling 253,266 shares during the period. Nuveen Asset Management LLC owned about 1.47% of MRC Global worth $15,990,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MRC. Barclays PLC raised its stake in shares of MRC Global by 197.7% in the third quarter. Barclays PLC now owns 151,169 shares of the oil and gas company's stock valued at $1,927,000 after buying an additional 100,384 shares during the period. SG Americas Securities LLC purchased a new stake in MRC Global during the fourth quarter valued at about $477,000. Jennison Associates LLC bought a new position in MRC Global during the fourth quarter worth about $1,108,000. Longboard Asset Management LP purchased a new position in shares of MRC Global in the fourth quarter worth about $134,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of MRC Global in the fourth quarter valued at approximately $327,000. Institutional investors own 94.97% of the company's stock.

MRC Global Price Performance

MRC stock traded down $0.05 during mid-day trading on Friday, hitting $12.49. 65,735 shares of the stock were exchanged, compared to its average volume of 745,614. The business has a fifty day moving average price of $11.56 and a 200 day moving average price of $12.63. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 14.36 and a beta of 1.63. MRC Global Inc. has a 12 month low of $9.23 and a 12 month high of $15.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11.

MRC Global (NYSE:MRC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.08 by $0.06. The company had revenue of $712.00 million for the quarter, compared to the consensus estimate of $710.00 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm's revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 earnings per share. On average, sell-side analysts anticipate that MRC Global Inc. will post 0.86 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Susquehanna cut their price objective on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a report on Monday, April 14th. Wall Street Zen cut MRC Global from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Loop Capital decreased their price target on MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus increased their price target on shares of MRC Global from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday, May 8th.

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.