Ameriprise Financial Inc. Sells 64,120 Shares of MRC Global Inc. (NYSE:MRC)

Ameriprise Financial Inc. reduced its holdings in shares of MRC Global Inc. (NYSE:MRC) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 763,425 shares of the oil and gas company’s stock after selling 64,120 shares during the period. Ameriprise Financial Inc. owned 0.90% of MRC Global worth $9,757,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MRC. Lord Abbett & CO. LLC acquired a new stake in MRC Global during the fourth quarter worth approximately $10,255,000. JPMorgan Chase & Co. boosted its holdings in shares of MRC Global by 419.3% during the 4th quarter. JPMorgan Chase & Co. now owns 811,787 shares of the oil and gas company’s stock worth $10,375,000 after buying an additional 655,455 shares in the last quarter. Norges Bank acquired a new stake in shares of MRC Global during the 4th quarter worth approximately $4,555,000. American Century Companies Inc. increased its stake in shares of MRC Global by 18.5% in the 4th quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company’s stock valued at $29,159,000 after acquiring an additional 356,372 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of MRC Global by 218.0% during the 4th quarter. Barclays PLC now owns 480,669 shares of the oil and gas company’s stock valued at $6,143,000 after acquiring an additional 329,500 shares during the period. 94.97% of the stock is owned by institutional investors.

MRC Global Stock Performance

MRC opened at $12.81 on Tuesday. MRC Global Inc. has a 1-year low of $9.23 and a 1-year high of $15.41. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 14.72 and a beta of 1.63. The company’s fifty day moving average price is $11.46 and its two-hundred day moving average price is $12.67. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15.

MRC Global (NYSE:MRC) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. The company had revenue of $712.00 million for the quarter, compared to analyst estimates of $710.00 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm’s revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 EPS. On average, analysts expect that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

Analyst Ratings Changes

MRC has been the subject of a number of research reports. Susquehanna reduced their price target on shares of MRC Global from $15.00 to $13.00 and set a “positive” rating for the company in a report on Monday, April 14th. StockNews.com cut shares of MRC Global from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. Loop Capital decreased their target price on MRC Global from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus upped their price target on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th.

MRC Global Company Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.