MRC Global Inc. (NYSE:MRC) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its position in MRC Global Inc. (NYSE:MRC) by 82.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,409 shares of the oil and gas company’s stock after selling 407,029 shares during the quarter. Allianz Asset Management GmbH owned about 0.10% of MRC Global worth $992,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in MRC Global in the fourth quarter valued at $658,000. KLP Kapitalforvaltning AS purchased a new position in shares of MRC Global during the 4th quarter worth $206,000. 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 worth $120,004,000 after purchasing an additional 42,331 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in MRC Global by 419.3% in the 4th quarter. JPMorgan Chase & Co. now owns 811,787 shares of the oil and gas company’s stock valued at $10,375,000 after buying an additional 655,455 shares during the period. Finally, Norges Bank purchased a new stake in MRC Global in the 4th quarter valued at about $4,555,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

MRC Global Trading Down 0.8%

MRC opened at $14.68 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.91 and a current ratio of 1.68. MRC Global Inc. has a one year low of $9.23 and a one year high of $15.59. The company has a market cap of $1.26 billion, a P/E ratio of -133.44 and a beta of 1.61. The business’s 50-day simple moving average is $13.31 and its 200-day simple moving average is $12.64.

MRC Global (NYSE:MRC) last announced its quarterly 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 net margin of 0.47% and a return on equity of 12.82%. The firm had revenue of $712.00 million for the quarter, compared to analyst estimates of $710.00 million. During the same period last year, the business earned $0.20 EPS. MRC Global’s revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, equities research analysts expect that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MRC shares. Wall Street Zen raised shares of MRC Global from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Stifel Nicolaus cut their target price on MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, July 21st. Finally, Susquehanna lowered their price target 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.

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.