Pzena Investment Management LLC Reduces Position in MRC Global Inc. (NYSE:MRC)

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

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of MRC Global by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 9,390,014 shares of the oil and gas company's stock valued at $120,004,000 after purchasing an additional 42,331 shares during the period. Dimensional Fund Advisors LP raised its position in shares of MRC Global by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,827,433 shares of the oil and gas company's stock valued at $48,914,000 after purchasing an additional 164,973 shares during the period. American Century Companies Inc. raised its position in shares of MRC Global by 18.5% during the 4th quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company's stock valued at $29,159,000 after purchasing an additional 356,372 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of MRC Global by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,261,364 shares of the oil and gas company's stock valued at $28,900,000 after purchasing an additional 121,601 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of MRC Global by 0.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,214,254 shares of the oil and gas company's stock valued at $15,518,000 after purchasing an additional 7,001 shares during the period. 94.97% of the stock is currently owned by institutional investors.

MRC Global Price Performance

MRC traded up $0.36 during trading on Thursday, hitting $13.99. 1,690,955 shares of the company traded hands, compared to its average volume of 707,087. The company has a market cap of $1.20 billion, a PE ratio of -127.14 and a beta of 1.61. The stock's 50-day simple moving average is $12.95 and its two-hundred day simple moving average is $12.54. MRC Global Inc. has a 1 year low of $9.23 and a 1 year high of $15.59. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.70.

MRC Global (NYSE:MRC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $710.00 million. During the same period last year, the company posted $0.20 earnings per share. MRC Global's quarterly revenue was down 11.7% on a year-over-year basis. As a group, sell-side analysts anticipate that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on MRC. Wall Street Zen raised shares of MRC Global from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Susquehanna cut their target price on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Finally, Stifel Nicolaus raised their target price on shares of MRC Global from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, June 27th.

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.