Nuveen Asset Management LLC Lowers Stake in MRC Global Inc. (NYSE:MRC)

Nuveen Asset Management LLC lessened its position in shares of MRC Global Inc. (NYSE:MRC) by 16.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,251,147 shares of the oil and gas company’s stock after selling 253,266 shares during the period. Nuveen Asset Management LLC owned approximately 1.47% of MRC Global worth $15,990,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its position in MRC Global by 3.7% during the fourth quarter. Hsbc Holdings PLC now owns 34,562 shares of the oil and gas company’s stock valued at $440,000 after acquiring an additional 1,234 shares during the period. Swiss National Bank boosted its position in shares of MRC Global by 0.9% in the fourth quarter. Swiss National Bank now owns 167,649 shares of the oil and gas company’s stock worth $2,143,000 after buying an additional 1,500 shares during the period. MetLife Investment Management LLC boosted its position in shares of MRC Global by 3.8% in the fourth quarter. MetLife Investment Management LLC now owns 51,551 shares of the oil and gas company’s stock worth $659,000 after buying an additional 1,886 shares during the period. Federated Hermes Inc. boosted its position in shares of MRC Global by 2.0% in the fourth quarter. Federated Hermes Inc. now owns 104,601 shares of the oil and gas company’s stock worth $1,337,000 after buying an additional 2,003 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of MRC Global by 7.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 33,422 shares of the oil and gas company’s stock worth $427,000 after buying an additional 2,219 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MRC shares. Susquehanna decreased their target price on MRC Global from $15.00 to $13.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Stifel Nicolaus upped their target price on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. 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, Wall Street Zen downgraded MRC Global from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th.

MRC Global Trading Up 0.5%

Shares of MRC opened at $12.40 on Monday. The company has a market capitalization of $1.07 billion, a P/E ratio of 14.25 and a beta of 1.63. MRC Global Inc. has a one year low of $9.23 and a one year high of $15.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. The stock has a 50-day moving average price of $11.53 and a 200 day moving average price of $12.64.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. The firm had revenue of $712.00 million during 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%. MRC Global’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 earnings per share. Sell-side analysts forecast that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

MRC Global 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.