Moore Capital Management LP Makes New Investment in MRC Global Inc. (NYSE:MRC)

Moore Capital Management LP acquired a new stake in MRC Global Inc. (NYSE:MRC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 249,673 shares of the oil and gas company's stock, valued at approximately $3,191,000. Moore Capital Management LP owned approximately 0.29% of MRC Global at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Huntington National Bank bought a new position in shares of MRC Global in the fourth quarter valued at approximately $34,000. Sterling Capital Management LLC boosted its holdings in MRC Global by 821.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company's stock worth $34,000 after buying an additional 2,406 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in MRC Global during the fourth quarter worth approximately $56,000. Longboard Asset Management LP bought a new stake in MRC Global during the fourth quarter worth approximately $134,000. Finally, Ieq Capital LLC bought a new stake in MRC Global during the fourth quarter worth approximately $187,000. 94.97% of the stock is currently owned by institutional investors.

MRC Global Trading Down 0.3%

MRC Global stock traded down $0.04 during midday trading on Friday, reaching $12.81. The stock had a trading volume of 675,515 shares, compared to its average volume of 642,701. The firm's fifty day simple moving average is $11.40 and its two-hundred day simple moving average is $12.65. MRC Global Inc. has a twelve month low of $9.23 and a twelve month high of $15.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 14.72 and a beta of 1.63.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MRC. StockNews.com cut shares of MRC Global from a "buy" rating to a "hold" rating in a report on Thursday. Stifel Nicolaus raised their target price on shares of MRC Global from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Susquehanna decreased their price objective 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, Loop Capital decreased their price objective on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th.

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.