Strs Ohio Buys New Holdings in MRC Global Inc. $MRC

Strs Ohio purchased a new position in shares of MRC Global Inc. (NYSE:MRC) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 52,400 shares of the oil and gas company’s stock, valued at approximately $602,000. Strs Ohio owned approximately 0.06% of MRC Global as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRC. Summit Securities Group LLC acquired a new stake in shares of MRC Global during the first quarter worth about $44,000. Meeder Asset Management Inc. raised its position in 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 buying an additional 1,081 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in MRC Global in the 4th quarter valued at approximately $129,000. Virtus Advisers LLC acquired a new position in shares of MRC Global during the 1st quarter worth approximately $139,000. Finally, GAMMA Investing LLC increased its position in shares of MRC Global by 1,576.2% during the 1st quarter. GAMMA Investing LLC now owns 14,063 shares of the oil and gas company’s stock worth $161,000 after purchasing an additional 13,224 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MRC shares. Susquehanna lifted their target price on MRC Global from $14.00 to $15.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. Wall Street Zen upgraded MRC Global from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Zacks Research upgraded MRC Global to a “hold” rating in a research note on Friday, August 8th. Finally, Stifel Nicolaus reduced their target price on 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 analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

MRC Global Stock Performance

MRC stock opened at $14.25 on Friday. The stock has a market capitalization of $1.21 billion, a PE ratio of -59.38 and a beta of 1.72. The company has a current ratio of 1.84, a quick ratio of 1.00 and a debt-to-equity ratio of 0.83. The stock’s 50 day simple moving average is $14.39 and its 200 day simple moving average is $12.86. MRC Global Inc. has a 12-month low of $9.23 and a 12-month high of $15.59.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. MRC Global had a positive return on equity of 11.81% and a negative net margin of 0.10%.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 prior year, the business posted $0.28 EPS. MRC Global’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, research analysts forecast that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

About MRC Global

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.