Geode Capital Management LLC Acquires 27,089 Shares of MRC Global Inc. $MRC

Geode Capital Management LLC lifted its stake in MRC Global Inc. (NYSE:MRC) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,027,686 shares of the oil and gas company’s stock after acquiring an additional 27,089 shares during the period. Geode Capital Management LLC owned approximately 2.38% of MRC Global worth $27,803,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MRC. Lord Abbett & CO. LLC raised its stake in shares of 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 period. Nuveen LLC bought a new position in MRC Global in the 1st quarter worth about $14,081,000. Cramer Rosenthal Mcglynn LLC grew its holdings 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 buying an additional 508,723 shares in the last quarter. Kestrel Investment Management Corp purchased a new position in MRC Global during the 1st quarter valued at about $4,602,000. Finally, Arkadios Wealth Advisors increased its position in shares of MRC Global by 1,211.6% during the second quarter. Arkadios Wealth Advisors now owns 419,719 shares of the oil and gas company’s stock valued at $5,754,000 after buying an additional 387,719 shares during the period. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Susquehanna lowered 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 report on Thursday, October 2nd. Loop Capital downgraded shares of MRC Global from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a report on Monday, October 27th. Zacks Research upgraded shares of MRC Global to a “hold” rating in a research report on Friday, August 8th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of MRC Global in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.67.

MRC Global Price Performance

Shares of NYSE:MRC opened at $13.78 on Friday. The company’s fifty day moving average price is $14.00 and its 200-day moving average price is $13.80. 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 market capitalization of $1.17 billion, a price-to-earnings ratio of -57.40 and a beta of 1.63. MRC Global Inc. has a one year low of $9.23 and a one year high of $15.59.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Thursday, May 26th. The oil and gas company reported ($0.07) earnings per share (EPS) for the quarter. The company had revenue of $609.00 million for the quarter. MRC Global had a positive return on equity of 11.81% and a negative net margin of 0.10%. On average, equities research analysts anticipate 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.