Deutsche Bank AG Decreases Stake in MRC Global Inc. (NYSE:MRC)

Deutsche Bank AG reduced its stake in shares of MRC Global Inc. (NYSE:MRC) by 47.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 147,986 shares of the oil and gas company’s stock after selling 136,138 shares during the period. Deutsche Bank AG owned about 0.17% of MRC Global worth $1,891,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Huntington National Bank bought a new stake in shares of MRC Global during the fourth quarter valued at about $34,000. Sterling Capital Management LLC raised its stake in shares of MRC Global by 821.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 2,406 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of MRC Global during the fourth quarter valued at about $56,000. Longboard Asset Management LP bought a new position in shares of MRC Global in the fourth quarter worth approximately $134,000. Finally, Ieq Capital LLC bought a new stake in shares of MRC Global in the fourth quarter worth about $187,000. 94.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MRC has been the topic of several research reports. Susquehanna cut their price objective on MRC Global from $15.00 to $13.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus raised 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. Wall Street Zen cut MRC Global from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. Finally, Loop Capital lowered their price objective on MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th.

MRC Global Trading Up 0.5%

Shares of NYSE MRC opened at $12.40 on Friday. The business’s 50 day moving average is $11.53 and its two-hundred day moving average is $12.67. MRC Global Inc. has a 1-year low of $9.23 and a 1-year high of $15.41. The stock has a market capitalization of $1.07 billion, a P/E ratio of 14.25 and a beta of 1.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11.

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

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.