MRC Global Inc. $MRC Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in MRC Global Inc. by 5.4% in the first quarter, owning over 3.1 million shares valued at approximately $35.6 million.
• Several hedge funds significantly increased their holdings in MRC Global, with some like GAMMA Investing LLC raising their positions by over 1,576%.
• MRC Global's recent earnings report indicated a quarterly EPS of $0.25, surpassing expectations, despite a 4.1% year-over-year revenue decline.

Wellington Management Group LLP increased its position in MRC Global Inc. (NYSE:MRC - Free Report) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,105,144 shares of the oil and gas company's stock after buying an additional 158,338 shares during the quarter. Wellington Management Group LLP owned about 3.61% of MRC Global worth $35,647,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MRC. Wells Fargo & Company MN raised its position in shares of MRC Global by 27.2% in the 4th quarter. Wells Fargo & Company MN now owns 50,287 shares of the oil and gas company's stock worth $643,000 after buying an additional 10,759 shares during the period. Envestnet Asset Management Inc. raised its position in shares of MRC Global by 35.7% in 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 period. Raymond James Financial Inc. purchased a new position in shares of MRC Global in the 4th quarter worth $658,000. Marshall Wace LLP purchased a new position in shares of MRC Global in the 4th quarter worth $405,000. Finally, Dimensional Fund Advisors LP raised its position in shares of MRC Global by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,827,433 shares of the oil and gas company's stock worth $48,914,000 after buying an additional 164,973 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MRC has been the topic of several research reports. Zacks Research raised MRC Global to a "hold" rating in a research report on Friday, August 8th. Susquehanna raised their price objective on MRC Global from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Stifel Nicolaus cut their price objective on MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Finally, Wall Street Zen raised MRC Global from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $16.00.

MRC Global Stock Up 1.5%

Shares of NYSE MRC traded up $0.22 during midday trading on Thursday, reaching $15.35. 341,920 shares of the company's stock were exchanged, compared to its average volume of 847,310. MRC Global Inc. has a 52-week low of $9.23 and a 52-week high of $15.59. The stock has a market capitalization of $1.31 billion, a PE ratio of -63.98 and a beta of 1.65. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.00 and a current ratio of 1.84. The business's fifty day moving average price is $13.88 and its two-hundred day moving average price is $12.60.

MRC Global (NYSE:MRC - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. MRC Global had a positive return on equity of 11.81% and a negative net margin of 0.10%.The business had revenue of $798.00 million for the quarter, compared to analyst estimates of $784.60 million. During the same period in the previous year, the company earned $0.28 earnings per share. The company's revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts forecast that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global Company 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.