Allspring Global Investments Holdings LLC Sells 1,266 Shares of MRC Global Inc. $MRC

Allspring Global Investments Holdings LLC lowered its stake in shares of MRC Global Inc. (NYSE:MRC) by 5.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 21,968 shares of the oil and gas company’s stock after selling 1,266 shares during the period. Allspring Global Investments Holdings LLC’s holdings in MRC Global were worth $293,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lord Abbett & CO. LLC boosted its stake in MRC Global by 336.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 3,498,499 shares of the oil and gas company’s stock valued at $40,163,000 after purchasing an additional 2,696,044 shares during the last quarter. Wellington Management Group LLP boosted its stake in MRC Global by 5.4% during the 1st quarter. Wellington Management Group LLP now owns 3,105,144 shares of the oil and gas company’s stock valued at $35,647,000 after purchasing an additional 158,338 shares during the last quarter. American Century Companies Inc. boosted its stake in MRC Global by 14.2% during the 1st quarter. American Century Companies Inc. now owns 2,605,756 shares of the oil and gas company’s stock valued at $29,914,000 after purchasing an additional 324,110 shares during the last quarter. Cramer Rosenthal Mcglynn LLC boosted its stake in MRC Global by 64.0% during the 1st quarter. Cramer Rosenthal Mcglynn LLC now owns 1,303,210 shares of the oil and gas company’s stock valued at $14,961,000 after purchasing an additional 508,723 shares during the last quarter. Finally, Nuveen LLC acquired a new position in MRC Global during the 1st quarter valued at about $14,081,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

MRC Global Price Performance

MRC Global stock opened at $14.49 on Friday. The business’s 50 day simple moving average is $14.42 and its 200 day simple moving average is $13.36. The company has a current ratio of 1.84, a quick ratio of 1.00 and a debt-to-equity ratio of 0.83. MRC Global Inc. has a 12 month low of $9.23 and a 12 month high of $15.59. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -60.38 and a beta of 1.62.

MRC Global (NYSE:MRC) last issued 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 business had revenue of $609.00 million for the quarter. Sell-side analysts forecast that MRC Global Inc. will post 0.86 EPS for the current year.

Analysts Set New Price Targets

MRC has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of MRC Global in a research note on Saturday. Stifel Nicolaus cut their target price on 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 MRC Global to a “hold” rating in a research note on Friday, August 8th. Finally, Susquehanna downgraded MRC Global from a “positive” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.00.

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.