Picton Mahoney Asset Management Makes New $429,000 Investment in MRC Global Inc. (NYSE:MRC)

Key Points

• Picton Mahoney Asset Management has invested approximately $429,000 in MRC Global Inc., acquiring 37,306 shares in the first quarter.
• A variety of other institutional investors also adjusted their stakes in MRC Global, with Vanguard Group Inc. increasing its position by 0.5% and owning over 9.39 million shares.
• Analysts' forecasts for MRC Global include a drop in the price target by Susquehanna from $15.00 to $13.00, while Stifel Nicolaus also reduced its target from $17.00 to $16.00, indicating a **mixed outlook** for the stock.

Picton Mahoney Asset Management bought a new stake in MRC Global Inc. (NYSE:MRC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 37,306 shares of the oil and gas company's stock, valued at approximately $429,000.

Other hedge funds also recently modified their holdings of the company. 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 valued at $440,000 after buying an additional 1,234 shares during the period. MetLife Investment Management LLC increased its holdings 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 valued at $659,000 after purchasing an additional 1,886 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of MRC Global by 2.0% in the fourth quarter. Federated Hermes Inc. now owns 104,601 shares of the oil and gas company's stock valued at $1,337,000 after purchasing an additional 2,003 shares in the last quarter. Sterling Capital Management LLC grew its holdings 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 worth $34,000 after acquiring an additional 2,406 shares during the period. Finally, EP Wealth Advisors LLC grew its holdings in MRC Global by 19.6% during the 4th quarter. EP Wealth Advisors LLC now owns 15,682 shares of the oil and gas company's stock worth $200,000 after acquiring an additional 2,567 shares during the period. Hedge funds and other institutional investors own 94.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MRC. 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 research report on Monday, July 21st. Susquehanna lowered their price target 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. Finally, Wall Street Zen raised shares of MRC Global from a "hold" rating to a "buy" rating in a report on Friday, June 6th.

MRC Global Stock Performance

Shares of NYSE:MRC traded down $0.81 on Friday, reaching $13.87. 718,516 shares of the company's stock were exchanged, compared to its average volume of 1,200,698. 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 company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -126.09 and a beta of 1.64. The company has a fifty day moving average of $13.34 and a 200-day moving average of $12.63. MRC Global Inc. has a twelve month low of $9.23 and a twelve month 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 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.06. MRC Global had a net margin of 0.47% and a return on equity of 12.82%. The company had revenue of $712.00 million for the quarter, compared to analyst estimates of $710.00 million. During the same quarter in the previous year, the business earned $0.20 earnings per share. MRC Global's revenue was down 11.7% compared to the same quarter last year. On average, research analysts predict that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

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.