Posted by admin on Jul 13th, 2022
Virginia Retirement Systems ET AL lessened its holdings in shares of MRC Global Inc. (NYSE:MRC – Get Rating) by 43.0% in the first quarter, HoldingsChannel reports. The fund owned 12,200 shares of the oil and gas company’s stock after selling 9,200 shares during the period. Virginia Retirement Systems ET AL’s holdings in MRC Global were worth $145,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in MRC. JPMorgan Chase & Co. raised its stake in shares of MRC Global by 318.0% in the 4th quarter. JPMorgan Chase & Co. now owns 4,685,109 shares of the oil and gas company’s stock worth $32,233,000 after buying an additional 3,564,379 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of MRC Global by 58.3% in the 4th quarter. Pzena Investment Management LLC now owns 4,518,807 shares of the oil and gas company’s stock worth $31,089,000 after buying an additional 1,663,744 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of MRC Global by 0.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,374,937 shares of the oil and gas company’s stock worth $30,100,000 after buying an additional 13,029 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of MRC Global by 5.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,790,062 shares of the oil and gas company’s stock worth $26,076,000 after buying an additional 179,159 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of MRC Global by 20.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,985,957 shares of the oil and gas company’s stock worth $13,663,000 after buying an additional 332,443 shares in the last quarter. Institutional investors own 94.09% of the company’s stock.
A number of analysts have recently commented on the company. Stifel Nicolaus boosted their price objective on MRC Global from $14.00 to $16.00 in a research note on Friday, July 8th. Benchmark initiated coverage on MRC Global in a research report on Thursday, July 7th. They set a “buy” rating and a $14.00 target price on the stock. StockNews.com raised MRC Global from a “hold” rating to a “buy” rating in a research report on Wednesday, June 8th. Finally, TheStreet raised MRC Global from a “d+” rating to a “c-” rating in a research report on Tuesday, March 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, MRC Global has an average rating of “Buy” and a consensus target price of $13.50.
Shares of MRC Global stock opened at $10.25 on Wednesday. The firm has a market capitalization of $855.67 million, a PE ratio of -44.57 and a beta of 1.98. MRC Global Inc. has a 12-month low of $6.38 and a 12-month high of $13.44. The company has a quick ratio of 0.98, a current ratio of 1.93 and a debt-to-equity ratio of 0.88. The stock’s fifty day moving average is $10.45 and its 200-day moving average is $10.09.
MRC Global (NYSE:MRC – Get Rating) last posted its quarterly earnings results on Monday, May 9th. The oil and gas company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $742.00 million for the quarter, compared to analyst estimates of $717.48 million. MRC Global had a positive return on equity of 14.63% and a negative net margin of 0.04%. MRC Global’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) earnings per share. Analysts expect that MRC Global Inc. will post 0.77 EPS for the current year.
MRC Global Company Profile (Get Rating)
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy, industrial, and gas utility end-markets in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components, as well as valve modification services; and measurement, steam, and instrumentation products.
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