Posted by admin on Aug 19th, 2022

Russell Investments Group Ltd. cut its holdings in shares of MRC Global Inc. (NYSE:MRC – Get Rating) by 16.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,895 shares of the oil and gas company’s stock after selling 17,775 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of MRC Global worth $1,092,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new position in shares of MRC Global during the 1st quarter worth $31,000. Teacher Retirement System of Texas boosted its holdings in MRC Global by 20.1% during the 4th quarter. Teacher Retirement System of Texas now owns 15,108 shares of the oil and gas company’s stock valued at $104,000 after acquiring an additional 2,530 shares during the period. ProShare Advisors LLC boosted its holdings in MRC Global by 70.5% during the 4th quarter. ProShare Advisors LLC now owns 17,590 shares of the oil and gas company’s stock valued at $121,000 after acquiring an additional 7,272 shares during the period. Qube Research & Technologies Ltd purchased a new position in MRC Global during the 4th quarter valued at about $125,000. Finally, Mount Yale Investment Advisors LLC purchased a new position in MRC Global during the 1st quarter valued at about $254,000. 94.09% of the stock is currently owned by hedge funds and other institutional investors.

MRC stock opened at $9.97 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.01 and a quick ratio of 0.99. The firm has a market capitalization of $832.33 million, a P/E ratio of -83.08 and a beta of 1.99. The business’s 50-day moving average is $10.27 and its two-hundred day moving average is $10.65. MRC Global Inc. has a 1 year low of $6.38 and a 1 year high of $13.44.

MRC Global (NYSE:MRC – Get Rating) last issued its earnings results on Monday, August 8th. The oil and gas company reported $0.27 earnings per share 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 business had revenue of $848.00 million for the quarter, compared to analyst estimates of $823.48 million. During the same quarter last year, the company earned $0.08 EPS. The business’s quarterly revenue was up 23.6% on a year-over-year basis. Analysts anticipate that MRC Global Inc. will post 0.89 earnings per share for the current fiscal year.

A number of brokerages recently commented on MRC. Benchmark began coverage on MRC Global in a report on Thursday, July 7th. They set a “buy” rating and a $14.00 target price for the company. StockNews.com cut MRC Global from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Stifel Nicolaus increased their price target on MRC Global from $14.00 to $16.00 in a research report on Friday, July 8th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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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