Pacer Advisors Inc. Acquires Shares of 1,082,974 MRC Global Inc. (NYSE:MRC)

Key Points

• Pacer Advisors Inc. has acquired a new stake in MRC Global Inc., purchasing 1,082,974 shares valued at approximately $12.43 million, which represents about 1.26% of the company's stock.
• Several other institutional investors, including Oppenheimer Asset Management Inc. and JPMorgan Chase & Co., significantly increased their holdings in MRC Global during the first quarter, showing strong institutional interest in the company.
• MRC Global reported earnings of $0.14 EPS for the past quarter, exceeding the expected $0.08 EPS, although revenue declined by 11.7% year-over-year to $712 million.

Pacer Advisors Inc. acquired a new stake in MRC Global Inc. (NYSE:MRC - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,082,974 shares of the oil and gas company's stock, valued at approximately $12,433,000. Pacer Advisors Inc. owned approximately 1.26% of MRC Global as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Huntington National Bank acquired a new stake in MRC Global in the 4th quarter valued at $34,000. Sterling Capital Management LLC grew its position in MRC Global by 821.2% in 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 purchasing an additional 2,406 shares during the period. Meeder Asset Management Inc. acquired a new stake in MRC Global in the 4th quarter valued at $56,000. Quantinno Capital Management LP acquired a new stake in MRC Global in the 4th quarter valued at $129,000. Finally, GAMMA Investing LLC grew its position in 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 valued at $161,000 after purchasing an additional 13,224 shares during the period. Institutional investors own 94.97% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stifel Nicolaus cut their price objective on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Monday, July 21st. Wall Street Zen raised shares of MRC Global from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Susquehanna cut their price objective on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating on the stock in a report on Monday, April 14th.

MRC Global Stock Performance

Shares of NYSE:MRC traded down $0.02 during midday trading on Wednesday, reaching $15.12. The company had a trading volume of 150,224 shares, compared to its average volume of 865,511. The company's 50 day moving average price is $13.22 and its 200 day moving average price is $12.62. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.30 billion, a P/E ratio of -137.23 and a beta of 1.61. MRC Global Inc. has a 52-week low of $9.23 and a 52-week high of $15.59.

MRC Global (NYSE:MRC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates 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 0.47% and a return on equity of 12.82%. The firm's quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS. As a group, sell-side analysts anticipate that MRC Global Inc. will post 0.86 EPS for the current fiscal 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.