Wellington Management Group LLP Sells 262,445 Shares of MRC Global Inc. (NYSE:MRC)

Wellington Management Group LLP cut its holdings in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,946,806 shares of the oil and gas company's stock after selling 262,445 shares during the quarter. Wellington Management Group LLP owned approximately 3.42% of MRC Global worth $37,660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank bought a new stake in MRC Global during the 4th quarter worth about $34,000. Sterling Capital Management LLC raised its holdings in shares of MRC Global by 821.2% in the 4th 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 period. Meeder Asset Management Inc. acquired a new position in MRC Global in the 4th quarter valued at about $56,000. Quantinno Capital Management LP acquired a new position in MRC Global in the 4th quarter valued at about $129,000. Finally, Longboard Asset Management LP acquired a new position in MRC Global in the 4th quarter valued at about $134,000. 94.97% of the stock is owned by institutional investors.

MRC Global Price Performance

Shares of NYSE MRC traded up $0.51 during trading hours on Tuesday, hitting $12.72. 697,151 shares of the stock were exchanged, compared to its average volume of 749,209. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. The company has a market cap of $1.09 billion, a PE ratio of 14.61 and a beta of 1.63. The company's fifty day simple moving average is $11.57 and its two-hundred day simple moving average is $12.60. MRC Global Inc. has a 1-year low of $9.23 and a 1-year high of $15.41.

MRC Global (NYSE:MRC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. The business had revenue of $712.00 million for the quarter, compared to analyst estimates of $710.00 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm's revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter last year, the business posted $0.20 EPS. On average, sell-side analysts predict that MRC Global Inc. will post 0.86 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on MRC shares. Stifel Nicolaus increased their target price on shares of MRC Global from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Loop Capital decreased their target price on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Susquehanna decreased their target price 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. Finally, Wall Street Zen lowered shares of MRC Global from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.

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.