Northern Trust Corp Raises Stock Holdings in MRC Global Inc. (NYSE:MRC)

Northern Trust Corp raised its stake in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 861,092 shares of the oil and gas company's stock after buying an additional 66,319 shares during the quarter. Northern Trust Corp owned about 1.01% of MRC Global worth $11,005,000 at the end of the most recent quarter.

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

MRC Global Stock Performance

MRC Global stock traded down $0.07 during mid-day trading on Thursday, reaching $12.35. 435,729 shares of the stock traded hands, compared to its average volume of 641,567. The stock has a market capitalization of $1.06 billion, a PE ratio of 14.19 and a beta of 1.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11. MRC Global Inc. has a 12-month low of $9.23 and a 12-month high of $15.41. The business's 50-day moving average is $11.53 and its 200-day moving average is $12.67.

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, beating analysts' consensus estimates of $0.08 by $0.06. The company had revenue of $712.00 million during the quarter, compared to analysts' expectations of $710.00 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. MRC Global's revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 earnings per share. As a group, sell-side analysts predict that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

Analyst Ratings Changes

MRC has been the topic of several recent analyst reports. Stifel Nicolaus increased 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. Susquehanna dropped their price objective on MRC Global from $15.00 to $13.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Loop Capital dropped their price objective on MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Finally, Wall Street Zen cut MRC Global from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.

About MRC Global

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.