Millennium Management LLC Lowers Position in MRC Global Inc. (NYSE:MRC)

Millennium Management LLC reduced its stake in MRC Global Inc. (NYSE:MRC) by 77.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 146,989 shares of the oil and gas company’s stock after selling 500,915 shares during the quarter. Millennium Management LLC owned approximately 0.17% of MRC Global worth $1,879,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MRC. Vanguard Group Inc. increased its position in shares of MRC Global by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 9,390,014 shares of the oil and gas company’s stock valued at $120,004,000 after purchasing an additional 42,331 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of MRC Global by 1.0% during the 4th quarter. Pzena Investment Management LLC now owns 5,825,650 shares of the oil and gas company’s stock valued at $74,452,000 after purchasing an additional 54,859 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of MRC Global by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,827,433 shares of the oil and gas company’s stock valued at $48,914,000 after purchasing an additional 164,973 shares during the last quarter. American Century Companies Inc. increased its position in shares of MRC Global by 18.5% during 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 purchasing an additional 356,372 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of MRC Global by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,261,364 shares of the oil and gas company’s stock valued at $28,900,000 after purchasing an additional 121,601 shares during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus raised their target price on MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Wall Street Zen lowered MRC Global from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. Susquehanna decreased their price objective on MRC Global from $15.00 to $13.00 and set a “positive” rating for the company in a report on Monday, April 14th. Finally, Loop Capital decreased their price objective on MRC Global from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, March 18th.

MRC Global Stock Down 1.6%

Shares of NYSE MRC opened at $12.21 on Tuesday. MRC Global Inc. has a 52 week low of $9.23 and a 52 week high of $15.41. The business has a 50-day simple moving average of $11.57 and a two-hundred day simple moving average of $12.60. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.05 billion, a P/E ratio of 14.03 and a beta of 1.63.

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