Goldman Sachs Group Inc. Trims Stock Position in MRC Global Inc. $MRC

Goldman Sachs Group Inc. decreased its holdings in MRC Global Inc. (NYSE:MRC) by 75.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 366,468 shares of the oil and gas company’s stock after selling 1,138,630 shares during the quarter. Goldman Sachs Group Inc. owned about 0.43% of MRC Global worth $4,207,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Voya Investment Management LLC increased its stake in MRC Global by 8.3% in the 1st quarter. Voya Investment Management LLC now owns 38,353 shares of the oil and gas company’s stock valued at $440,000 after buying an additional 2,936 shares during the period. Strs Ohio acquired a new stake in shares of MRC Global during the 1st quarter worth about $602,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of MRC Global by 1.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 270,742 shares of the oil and gas company’s stock worth $3,108,000 after acquiring an additional 4,052 shares during the period. Optimize Financial Inc lifted its holdings in shares of MRC Global by 12.7% during the 1st quarter. Optimize Financial Inc now owns 19,276 shares of the oil and gas company’s stock worth $221,000 after acquiring an additional 2,169 shares during the period. Finally, Empowered Funds LLC raised its holdings in MRC Global by 2.0% in the first quarter. Empowered Funds LLC now owns 383,694 shares of the oil and gas company’s stock valued at $4,405,000 after buying an additional 7,680 shares during the period. 94.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MRC has been the topic of several recent analyst reports. Wall Street Zen raised shares of MRC Global from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Zacks Research upgraded MRC Global to a “hold” rating in a report 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 report on Thursday, August 7th. Finally, Stifel Nicolaus dropped their price target on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, July 21st. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

MRC Global Stock Down 1.5%

MRC Global stock opened at $14.32 on Thursday. The firm has a 50 day moving average price of $14.32 and a two-hundred day moving average price of $12.81. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -59.68 and a beta of 1.72. 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 52-week low of $9.23 and a 52-week high of $15.59.

MRC Global (NYSE:MRC) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. MRC Global had a negative net margin of 0.10% and a positive return on equity of 11.81%. The business had revenue of $798.00 million during the quarter, compared to analyst estimates of $784.60 million. During the same quarter in the previous year, the business posted $0.28 EPS. MRC Global’s quarterly revenue was down 4.1% on a year-over-year basis. Equities analysts predict that MRC Global Inc. will post 0.86 EPS for the current year.

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.