MRC Global Inc. $MRC Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC cut its stake in MRC Global Inc. (NYSE:MRC) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,223,482 shares of the oil and gas company’s stock after selling 126,937 shares during the period. Pzena Investment Management LLC owned 6.07% of MRC Global worth $71,614,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in MRC Global in the 1st quarter worth approximately $44,000. Meeder Asset Management Inc. boosted its stake 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 worth $63,000 after purchasing an additional 1,081 shares in the last quarter. Virtus Advisers LLC acquired a new stake in MRC Global in the 1st quarter worth approximately $139,000. GAMMA Investing LLC boosted its stake in 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 worth $161,000 after purchasing an additional 13,224 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in MRC Global in the 1st quarter worth approximately $165,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on MRC shares. Zacks Research upgraded shares of MRC Global to a “hold” rating in a research note on Friday, August 8th. Susquehanna cut shares of MRC Global from a “positive” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Thursday, October 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of MRC Global in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus decreased their price objective 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. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, MRC Global currently has an average rating of “Hold” and an average price target of $16.00.

MRC Global Stock Performance

MRC opened at $13.24 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.84 and a quick ratio of 1.00. The firm has a fifty day moving average price of $14.46 and a 200 day moving average price of $13.16. MRC Global Inc. has a 1 year low of $9.23 and a 1 year high of $15.59. The stock has a market cap of $1.13 billion, a P/E ratio of -55.17 and a beta of 1.62.

MRC Global (NYSE:MRC) last posted its earnings results on Thursday, May 26th. The oil and gas company reported ($0.07) earnings per share (EPS) for the quarter. MRC Global had a negative net margin of 0.10% and a positive return on equity of 11.81%. The firm had revenue of $609.00 million during the quarter. Equities research analysts anticipate that MRC Global Inc. will post 0.86 earnings per share 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.