Posted by admin on Aug 16th, 2022
Scotia Capital Inc. bought a new position in shares of MRC Global Inc. (NYSE:MRC – Get Rating) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,663 shares of the oil and gas company’s stock, valued at approximately $127,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC boosted its position in MRC Global by 10.9% during the first quarter. Pzena Investment Management LLC now owns 5,013,481 shares of the oil and gas company’s stock worth $59,711,000 after purchasing an additional 494,674 shares during the period. JPMorgan Chase & Co. boosted its position in shares of MRC Global by 318.0% in the fourth quarter. JPMorgan Chase & Co. now owns 4,685,109 shares of the oil and gas company’s stock valued at $32,233,000 after acquiring an additional 3,564,379 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of MRC Global by 0.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,374,937 shares of the oil and gas company’s stock valued at $30,100,000 after acquiring an additional 13,029 shares during the period. D. E. Shaw & Co. Inc. boosted its position in shares of MRC Global by 20.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,985,957 shares of the oil and gas company’s stock valued at $13,663,000 after acquiring an additional 332,443 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of MRC Global by 15.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,785,375 shares of the oil and gas company’s stock valued at $12,283,000 after acquiring an additional 234,418 shares during the period. Institutional investors own 94.09% of the company’s stock.
Shares of NYSE MRC opened at $9.57 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 0.99 and a debt-to-equity ratio of 1.02. The business has a fifty day simple moving average of $10.39 and a 200 day simple moving average of $10.65. MRC Global Inc. has a one year low of $6.38 and a one year high of $13.44. The firm has a market capitalization of $798.93 million, a price-to-earnings ratio of -79.75 and a beta of 1.99.
MRC Global (NYSE:MRC – Get Rating) last released its quarterly earnings data on Monday, August 8th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. MRC Global had a return on equity of 21.49% and a net margin of 0.51%. The firm had revenue of $848.00 million during the quarter, compared to analyst estimates of $823.48 million. During the same period in the prior year, the company posted $0.08 earnings per share. The business’s revenue for the quarter was up 23.6% compared to the same quarter last year. Sell-side analysts expect that MRC Global Inc. will post 0.89 EPS for the current year.
Several research firms have recently weighed in on MRC. Stifel Nicolaus increased their price objective on MRC Global from $14.00 to $16.00 in a research report on Friday, July 8th. Benchmark initiated coverage on MRC Global in a research note on Thursday, July 7th. They issued a “buy” rating and a $14.00 target price for the company. Finally, StockNews.com lowered MRC Global from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, MRC Global has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.
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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