Brandywine Global Investment Management LLC raised its stake in MRC Global (NYSE:MRC) by 24.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 395,965 shares of the oil and gas company’s stock after purchasing an additional 78,023 shares during the period. Brandywine Global Investment Management LLC owned 0.42% of MRC Global worth $6,700,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado bought a new stake in shares of MRC Global during the 4th quarter valued at about $120,000. MHI Funds LLC bought a new stake in shares of MRC Global during the 4th quarter valued at about $171,000. Knightsbridge Asset Management LLC bought a new stake in shares of MRC Global during the 4th quarter valued at about $195,000. Koch Industries Inc. bought a new stake in shares of MRC Global during the 4th quarter valued at about $217,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of MRC Global during the 3rd quarter valued at about $276,000. 98.43% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of MRC Global from a “hold” rating to a “strong sell” rating in a research report on Monday, January 8th. Susquehanna Bancshares set a $21.00 target price on shares of MRC Global and gave the stock a “buy” rating in a research report on Friday, January 12th. Alembic Global Advisors restated a “buy” rating on shares of MRC Global in a research report on Tuesday, February 20th. Stifel Nicolaus restated a “buy” rating and issued a $22.00 target price (up previously from $18.00) on shares of MRC Global in a research report on Tuesday, January 16th. Finally, ValuEngine cut shares of MRC Global from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. MRC Global has a consensus rating of “Buy” and an average price target of $20.56.
In other news, CEO Andrew R. Lane sold 293,154 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $19.00, for a total value of $5,569,926.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew R. Lane sold 180,621 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $19.00, for a total transaction of $3,431,799.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 476,775 shares of company stock valued at $9,054,195. Company insiders own 7.00% of the company’s stock.
NYSE MRC traded down $0.09 on Friday, hitting $17.26. The stock had a trading volume of 924,688 shares, compared to its average volume of 793,337. The stock has a market cap of $1,576.67, a price-to-earnings ratio of 575.33, a price-to-earnings-growth ratio of 1.61 and a beta of 1.49. MRC Global has a one year low of $14.01 and a one year high of $20.77. The company has a current ratio of 2.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69.
MRC Global (NYSE:MRC) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). The company had revenue of $903.00 million during the quarter, compared to analyst estimates of $907.63 million. MRC Global had a return on equity of 3.54% and a net margin of 1.37%. The company’s revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.18) earnings per share. equities research analysts expect that MRC Global will post 0.71 earnings per share for the current fiscal year.
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MRC Global Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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