MRC Global Inc. $MRC Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its stake in shares of MRC Global Inc. (NYSE:MRC) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 381,988 shares of the oil and gas company’s stock after selling 5,022 shares during the period. Russell Investments Group Ltd. owned about 0.44% of MRC Global worth $4,385,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Nuveen LLC acquired a new stake in shares of MRC Global during the 1st quarter valued at approximately $14,081,000. Invesco Ltd. lifted its position in shares of MRC Global by 62.8% during the 1st quarter. Invesco Ltd. now owns 478,848 shares of the oil and gas company’s stock valued at $5,497,000 after acquiring an additional 184,775 shares during the period. Haven Private LLC purchased a new position in shares of MRC Global during the 1st quarter worth approximately $199,000. Kestrel Investment Management Corp purchased a new position in shares of MRC Global during the 1st quarter worth approximately $4,602,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of MRC Global during the 1st quarter worth approximately $367,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRC has been the topic of a number of recent research reports. Stifel Nicolaus reduced their target price on MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, July 21st. Zacks Research raised MRC Global to a “hold” rating in a research note on Friday, August 8th. Susquehanna upped their target price on MRC Global from $14.00 to $15.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. Finally, Wall Street Zen raised MRC Global from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.00.

MRC Global Stock Up 5.6%

MRC stock opened at $14.9680 on Friday. The stock has a market capitalization of $1.27 billion, a P/E ratio of -62.37 and a beta of 1.65. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.00 and a current ratio of 1.84. MRC Global Inc. has a one year low of $9.23 and a one year high of $15.59. The company has a 50 day moving average price of $13.74 and a two-hundred day moving average price of $12.57.

MRC Global (NYSE:MRC) last released its earnings results on Wednesday, August 6th. The oil and gas company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The firm had revenue of $798.00 million during the quarter, compared to analysts’ expectations of $784.60 million. MRC Global had a negative net margin of 0.10% and a positive return on equity of 11.81%. MRC Global’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 EPS. As a group, sell-side 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.