Balyasny Asset Management L.P. Sells 78,573 Shares of MRC Global Inc. (NYSE:MRC)

Balyasny Asset Management L.P. lowered its position in MRC Global Inc. (NYSE:MRC - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 493,632 shares of the oil and gas company's stock after selling 78,573 shares during the quarter. Balyasny Asset Management L.P. owned about 0.58% of MRC Global worth $6,309,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MRC. Barclays PLC increased its stake in MRC Global by 197.7% in the third quarter. Barclays PLC now owns 151,169 shares of the oil and gas company's stock valued at $1,927,000 after acquiring an additional 100,384 shares during the last quarter. JPMorgan Chase & Co. boosted its position in MRC Global by 12.7% during the third quarter. JPMorgan Chase & Co. now owns 156,332 shares of the oil and gas company's stock valued at $1,992,000 after buying an additional 17,609 shares during the period. SG Americas Securities LLC purchased a new stake in MRC Global during the fourth quarter valued at about $477,000. Jennison Associates LLC purchased a new stake in MRC Global during the fourth quarter valued at about $1,108,000. Finally, Longboard Asset Management LP purchased a new stake in MRC Global during the fourth quarter valued at about $134,000. Institutional investors own 94.97% of the company's stock.

MRC Global Trading Up 1.0%

Shares of MRC Global stock traded up $0.13 during trading on Tuesday, reaching $13.16. 778,585 shares of the stock were exchanged, compared to its average volume of 640,315. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The stock's fifty day moving average is $11.30 and its 200 day moving average is $12.64. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 15.13 and a beta of 1.63. 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 issued its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.08 by $0.06. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The business had revenue of $712.00 million during the quarter, compared to analyst estimates of $710.00 million. During the same period last year, the business posted $0.20 earnings per share. MRC Global's quarterly revenue was down 11.7% compared to the same quarter last year. As a group, equities research analysts expect that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. StockNews.com upgraded MRC Global from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Loop Capital lowered their price objective on MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Stifel Nicolaus boosted their price objective on MRC Global from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Susquehanna lowered 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.

MRC Global 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.