BlackRock Inc. reduced its position in shares of MRC Global Inc (NYSE:MRC) by 13.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,940,230 shares of the oil and gas company’s stock after selling 949,692 shares during the period. BlackRock Inc. owned approximately 6.62% of MRC Global worth $97,656,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MRC. Luminus Management LLC purchased a new position in MRC Global during the fourth quarter worth about $24,348,000. Alliancebernstein L.P. raised its holdings in MRC Global by 28.5% during the fourth quarter. Alliancebernstein L.P. now owns 4,845,387 shares of the oil and gas company’s stock worth $81,984,000 after purchasing an additional 1,074,208 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in MRC Global by 58.5% during the fourth quarter. Thrivent Financial For Lutherans now owns 2,276,750 shares of the oil and gas company’s stock worth $38,523,000 after purchasing an additional 840,210 shares in the last quarter. Deutsche Bank AG raised its holdings in MRC Global by 86.7% during the fourth quarter. Deutsche Bank AG now owns 706,074 shares of the oil and gas company’s stock worth $11,945,000 after purchasing an additional 327,880 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in MRC Global by 11.5% during the first quarter. Thrivent Financial for Lutherans now owns 2,538,373 shares of the oil and gas company’s stock worth $41,731,000 after purchasing an additional 261,623 shares in the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.
Shares of MRC Global opened at $21.67 on Friday, according to Marketbeat Ratings. The company has a current ratio of 2.30, a quick ratio of 1.08 and a debt-to-equity ratio of 0.85. MRC Global Inc has a twelve month low of $14.01 and a twelve month high of $22.11. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 722.33, a P/E/G ratio of 1.65 and a beta of 1.53.
MRC Global (NYSE:MRC) last issued its earnings results on Wednesday, May 2nd. The oil and gas company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04. MRC Global had a net margin of 1.63% and a return on equity of 5.13%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $948.42 million. MRC Global’s revenue was up 17.2% compared to the same quarter last year. equities analysts anticipate that MRC Global Inc will post 0.87 EPS for the current year.
In other MRC Global news, CAO Elton Ray Bond sold 6,708 shares of the company’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $20.16, for a total transaction of $135,233.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew R. Lane sold 46,749 shares of the company’s stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $19.00, for a total transaction of $888,231.00. The disclosure for this sale can be found here. Insiders have sold 1,069,932 shares of company stock worth $21,036,562 over the last 90 days. 7.00% of the stock is currently owned by company insiders.
Several research analysts recently issued reports on the stock. ValuEngine raised shares of MRC Global from a “hold” rating to a “buy” rating in a report on Friday, June 22nd. Stifel Nicolaus increased their price target on shares of MRC Global from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, May 4th. Zacks Investment Research raised shares of MRC Global from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday, May 2nd. Finally, Susquehanna Bancshares set a $22.00 price target on shares of MRC Global and gave the stock a “buy” rating in a report on Friday, April 13th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. MRC Global currently has an average rating of “Buy” and a consensus target price of $21.00.
MRC Global Profile
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. 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 products, and top work components, as well as measurement, steam, and instrumentation products.
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