Strs Ohio Makes New $602,000 Investment in MRC Global Inc. $MRC

Key Points

• Strs Ohio has purchased 52,400 shares of MRC Global Inc. valued at approximately $602,000, representing about 0.06% of the company's stock.
• Multiple institutional investors have increased their stakes in MRC Global, with GAMMA Investing LLC increasing its position by an impressive 1,576.2% this quarter.
• Research analysts have a consensus rating of "Moderate Buy" for MRC Global, with target prices ranging from $15.00 to $16.00, indicating a positive outlook for the stock.

Strs Ohio bought a new stake in MRC Global Inc. (NYSE:MRC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 52,400 shares of the oil and gas company's stock, valued at approximately $602,000. Strs Ohio owned approximately 0.06% of MRC Global at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of MRC Global in the 1st quarter valued at $44,000. Meeder Asset Management Inc. boosted its holdings in shares of MRC Global by 24.7% in the 1st quarter. Meeder Asset Management Inc. now owns 5,462 shares of the oil and gas company's stock valued at $63,000 after buying an additional 1,081 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of MRC Global in the 4th quarter valued at $129,000. Virtus Advisers LLC acquired a new position in shares of MRC Global in the 1st quarter valued at $139,000. Finally, GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 13,224 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

MRC Global Price Performance

Shares of NYSE MRC traded up $0.12 during midday trading on Tuesday, hitting $14.69. The company had a trading volume of 351,802 shares, compared to its average volume of 845,173. The company has a quick ratio of 1.00, a current ratio of 1.84 and a debt-to-equity ratio of 0.83. MRC Global Inc. has a twelve month low of $9.23 and a twelve month high of $15.59. The business has a 50-day simple moving average of $14.41 and a two-hundred day simple moving average of $12.90. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -61.28 and a beta of 1.72.

MRC Global (NYSE:MRC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. MRC Global had a negative net margin of 0.10% and a positive return on equity of 11.81%. The firm had revenue of $798.00 million during the quarter, compared to analysts' expectations of $784.60 million. During the same quarter last year, the business earned $0.28 earnings per share. The business's revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts anticipate that MRC Global Inc. will post 0.86 earnings per share for the current year.

Analyst Ratings Changes

MRC has been the subject of several research analyst reports. Wall Street Zen upgraded shares of MRC Global from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Stifel Nicolaus decreased their price target on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Monday, July 21st. Zacks Research upgraded shares of MRC Global to a "hold" rating in a research note on Friday, August 8th. Finally, Susquehanna increased their price target on shares of MRC Global from $14.00 to $15.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, MRC Global currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

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.