Pzena Investment Management LLC Sells 475,231 Shares of MRC Global Inc. (NYSE:MRC)

Pzena Investment Management LLC cut its holdings in MRC Global Inc. (NYSE:MRC - Free Report) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,350,419 shares of the oil and gas company's stock after selling 475,231 shares during the quarter. Pzena Investment Management LLC owned approximately 6.21% of MRC Global worth $61,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Hsbc Holdings PLC raised its position in shares of MRC Global by 3.7% during the 4th 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 in the last quarter. Swiss National Bank increased its position in shares of MRC Global by 0.9% during the fourth quarter. Swiss National Bank now owns 167,649 shares of the oil and gas company's stock worth $2,143,000 after acquiring an additional 1,500 shares during the period. MetLife Investment Management LLC increased its position in shares of MRC Global by 3.8% during the fourth quarter. MetLife Investment Management LLC now owns 51,551 shares of the oil and gas company's stock worth $659,000 after acquiring an additional 1,886 shares during the period. Federated Hermes Inc. increased its position in shares of MRC Global by 2.0% during the fourth quarter. Federated Hermes Inc. now owns 104,601 shares of the oil and gas company's stock worth $1,337,000 after acquiring an additional 2,003 shares during the period. Finally, Sterling Capital Management LLC increased its position in shares of MRC Global by 821.2% during the fourth 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. 94.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MRC shares. Stifel Nicolaus boosted their target price on shares of MRC Global from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, June 27th. 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 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 research report on Monday, April 14th.

MRC Global Price Performance

Shares of NYSE MRC traded up $0.05 during midday trading on Friday, hitting $14.04. The company had a trading volume of 1,078,489 shares, compared to its average volume of 704,664. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.70. The business has a 50-day simple moving average of $12.99 and a two-hundred day simple moving average of $12.54. MRC Global Inc. has a twelve month low of $9.23 and a twelve month high of $15.59. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -127.64 and a beta of 1.61.

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. The business had revenue of $712.00 million during 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 company's quarterly revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 earnings per share. Equities research analysts anticipate that MRC Global Inc. will post 0.86 earnings per share for the current year.

MRC Global 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.