Swiss National Bank Reduces Position in MRC Global Inc. $MRC

Swiss National Bank lessened its stake in shares of MRC Global Inc. (NYSE:MRC) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 165,249 shares of the oil and gas company’s stock after selling 2,400 shares during the period. Swiss National Bank owned approximately 0.19% of MRC Global worth $1,897,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MRC. Meeder Asset Management Inc. boosted its holdings in shares of MRC Global by 24.7% in the 1st quarter. Meeder Asset Management Inc. now owns 5,462 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 1,081 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in shares of MRC Global in the 4th quarter valued at $129,000. GAMMA Investing LLC boosted its holdings in shares of MRC Global by 1,576.2% in the 1st quarter. GAMMA Investing LLC now owns 14,063 shares of the oil and gas company’s stock valued at $161,000 after acquiring an additional 13,224 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of MRC Global by 35.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 14,657 shares of the oil and gas company’s stock valued at $187,000 after acquiring an additional 3,855 shares during the last quarter. Finally, Haven Private LLC purchased a new stake in shares of MRC Global in the 1st quarter valued at $199,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

MRC Global Stock Performance

NYSE:MRC opened at $14.9680 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.00 and a current ratio of 1.84. The company has a fifty day moving average of $13.74 and a two-hundred day moving average of $12.56. The stock has a market capitalization of $1.27 billion, a PE ratio of -62.37 and a beta of 1.65. MRC Global Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $15.59.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The company 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%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. As a group, research analysts forecast that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on MRC shares. Zacks Research raised shares of MRC Global to a “hold” rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of MRC Global from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Susquehanna boosted their target price on shares of MRC Global from $14.00 to $15.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. Finally, Stifel Nicolaus decreased their target price on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, July 21st. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

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.