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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LPL Financial LLC lifted its holdings in MRC Global by 97.1% in the first quarter. LPL Financial LLC now owns 158,490 shares of the oil and gas company's stock valued at $1,819,000 after acquiring an additional 78,086 shares during the period. Pacer Advisors Inc. bought a new position in MRC Global in the first quarter valued at about $12,433,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in MRC Global in the first quarter valued at about $2,198,000. Foundry Partners LLC lifted its holdings in MRC Global by 1.4% in the first quarter. Foundry Partners LLC now owns 359,253 shares of the oil and gas company's stock valued at $4,124,000 after acquiring an additional 4,858 shares during the period. Finally, Jennison Associates LLC lifted its holdings in MRC Global by 15.0% in the first quarter. Jennison Associates LLC now owns 99,678 shares of the oil and gas company's stock valued at $1,144,000 after acquiring an additional 12,966 shares during the period. 94.97% of the stock is owned by institutional investors.

MRC Global Price Performance

Shares of NYSE:MRC traded down $0.81 during trading on Friday, hitting $13.87. 718,516 shares of the company's stock were exchanged, compared to its average volume of 868,638. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.68 and a quick ratio of 0.91. MRC Global Inc. has a 52-week low of $9.23 and a 52-week high of $15.59. The business's 50-day simple moving average is $13.31 and its 200 day simple moving average is $12.64. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -126.09 and a beta of 1.61.

MRC Global (NYSE:MRC - Get Free Report) last released its earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. MRC Global had a return on equity of 12.82% and a net margin of 0.47%. The firm had revenue of $712.00 million during the quarter, compared to analysts' expectations of $710.00 million. During the same quarter last year, the business posted $0.20 earnings per share. The firm's revenue was down 11.7% on a year-over-year basis. As a group, equities analysts predict that MRC Global Inc. will post 0.86 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.