MRC Global Inc. $MRC Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in MRC Global Inc. (NYSE:MRC) by 19.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,708 shares of the oil and gas company’s stock after selling 6,854 shares during the quarter. Hsbc Holdings PLC’s holdings in MRC Global were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in shares of MRC Global in the first quarter valued at approximately $44,000. Meeder Asset Management Inc. increased its stake in shares of MRC Global by 24.7% during the first 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 period. Quantinno Capital Management LP acquired a new position in shares of MRC Global during the fourth quarter valued at approximately $129,000. GAMMA Investing LLC increased its stake in shares of MRC Global by 1,576.2% during the first 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 period. Finally, Fox Run Management L.L.C. acquired a new position in shares of MRC Global during the first quarter valued at approximately $165,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

MRC Global Trading Down 1.6%

MRC Global stock opened at $14.66 on Thursday. 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 firm has a market cap of $1.25 billion, a price-to-earnings ratio of -61.06 and a beta of 1.72. MRC Global Inc. has a 1 year low of $9.23 and a 1 year high of $15.59. The firm’s 50 day moving average price is $14.09 and its two-hundred day moving average price is $12.67.

MRC Global (NYSE:MRC) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. The firm had revenue of $798.00 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. On average, research analysts predict that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Stifel Nicolaus lowered their price objective on shares of 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 upgraded shares of MRC Global to a “hold” rating in a research note on Friday, August 8th. Susquehanna raised their price objective 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, Wall Street Zen upgraded shares of MRC Global from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

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.