Nuveen LLC Acquires Shares of 1,226,562 MRC Global Inc. $MRC

Key Points

• Nuveen LLC has acquired 1,226,562 shares of MRC Global Inc., valued at approximately $14.08 million, now owning about 1.43% of the company.
• Several institutional investors, such as Meeder Asset Management Inc. and Hsbc Holdings PLC, have also adjusted their stakes in MRC Global, showing strong interest among hedge funds, which own 94.97% of the stock.
• MRC Global recently reported earnings of $0.25 per share, surpassing analyst expectations, though revenue decreased by 4.1% year-over-year.

Nuveen LLC acquired a new stake in shares of MRC Global Inc. (NYSE:MRC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,226,562 shares of the oil and gas company's stock, valued at approximately $14,081,000. Nuveen LLC owned approximately 1.43% of MRC Global as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its holdings in MRC Global by 24.7% during the first quarter. Meeder Asset Management Inc. now owns 5,462 shares of the oil and gas company's stock valued at $63,000 after purchasing an additional 1,081 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of MRC Global by 3.7% in the fourth quarter. Hsbc Holdings PLC now owns 34,562 shares of the oil and gas company's stock worth $440,000 after buying an additional 1,234 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of MRC Global by 3.8% in the fourth quarter. MetLife Investment Management LLC now owns 51,551 shares of the oil and gas company's stock worth $659,000 after buying an additional 1,886 shares in the last quarter. Sterling Capital Management LLC lifted 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 buying an additional 2,406 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in shares of MRC Global by 19.6% in the fourth quarter. EP Wealth Advisors LLC now owns 15,682 shares of the oil and gas company's stock worth $200,000 after buying an additional 2,567 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MRC has been the topic of several research reports. Susquehanna raised their price target 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. Wall Street Zen raised shares of MRC Global from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Stifel Nicolaus decreased their price target on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. Finally, Zacks Research raised shares of MRC Global to a "hold" rating in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, MRC Global has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.

MRC Global Price Performance

MRC Global stock opened at $14.1450 on Friday. MRC Global Inc. has a 12-month low of $9.23 and a 12-month high of $15.59. The stock has a market cap of $1.20 billion, a P/E ratio of -58.94 and a beta of 1.65. The company has a 50-day moving average price of $13.70 and a 200 day moving average price of $12.57. 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 (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, topping the consensus estimate of $0.23 by $0.02. MRC Global had a negative net margin of 0.10% and a positive return on equity of 11.81%. The firm had revenue of $798.00 million during the quarter, compared to analysts' expectations of $784.60 million. During the same period last year, the business earned $0.28 earnings per share. MRC Global's revenue was down 4.1% compared to the same quarter last year. Sell-side analysts anticipate that MRC Global Inc. will post 0.86 earnings per share for the current year.

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.

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