Victory Capital Management Inc. cut its stake in MRC Global Inc. (NYSE:MRC - Free Report) by 95.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,406 shares of the oil and gas company's stock after selling 1,258,682 shares during the period. Victory Capital Management Inc. owned approximately 0.08% of MRC Global worth $751,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of MRC. Huntington National Bank purchased a new position in MRC Global in the 4th quarter valued at approximately $34,000. Sterling Capital Management LLC grew its holdings in MRC Global by 821.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 2,406 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in MRC Global in the fourth quarter valued at $129,000. GAMMA Investing LLC raised its stake in shares of MRC Global by 1,576.2% during the 1st quarter. GAMMA Investing LLC now owns 14,063 shares of the oil and gas company's stock worth $161,000 after buying an additional 13,224 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of MRC Global by 35.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 14,657 shares of the oil and gas company's stock worth $187,000 after buying an additional 3,855 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on MRC shares. Wall Street Zen raised shares of MRC Global from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Stifel Nicolaus dropped their price objective 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. Finally, Susquehanna cut their price objective on MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a research report on Monday, April 14th.
Read Our Latest Analysis on MRC
MRC Global Stock Down 5.5%
MRC opened at $13.87 on Friday. The firm has a market cap of $1.19 billion, a P/E ratio of -126.09 and a beta of 1.64. The business's fifty day simple moving average is $13.34 and its 200 day simple moving average is $12.64. MRC Global Inc. has a 52 week low of $9.23 and a 52 week high of $15.59. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.70.
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, beating 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 period in the prior year, the firm earned $0.20 EPS. The firm's quarterly revenue was down 11.7% on a year-over-year basis. As a group, equities research analysts anticipate that MRC Global Inc. will post 0.86 EPS for the current fiscal year.
About MRC Global
(
Free Report)
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.
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