Acadian Asset Management LLC Purchases 350,492 Shares of MRC Global Inc. (NYSE:MRC)

Acadian Asset Management LLC lifted its position in shares of MRC Global Inc. (NYSE:MRC) by 456.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 427,298 shares of the oil and gas company’s stock after purchasing an additional 350,492 shares during the quarter. Acadian Asset Management LLC’s holdings in MRC Global were worth $5,513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC raised its stake in MRC Global by 308.2% during the 2nd quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock worth $33,000 after buying an additional 1,951 shares during the period. Innealta Capital LLC bought a new stake in shares of MRC Global in the second quarter worth about $45,000. nVerses Capital LLC bought a new stake in shares of MRC Global in the second quarter worth about $70,000. New York State Teachers Retirement System acquired a new stake in shares of MRC Global during the first quarter worth about $94,000. Finally, Victory Capital Management Inc. bought a new position in shares of MRC Global during the 4th quarter valued at about $122,000. 94.97% of the stock is owned by institutional investors.

MRC Global Stock Down 0.8 %

MRC stock opened at $11.58 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.10. The stock has a market capitalization of $985.18 million, a P/E ratio of 13.47 and a beta of 1.97. MRC Global Inc. has a fifty-two week low of $9.47 and a fifty-two week high of $14.91. The business has a 50-day moving average of $13.08 and a 200-day moving average of $12.67.

MRC Global (NYSE:MRC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The firm had revenue of $832.00 million during the quarter, compared to the consensus estimate of $831.32 million. During the same quarter in the prior year, the firm posted $0.25 EPS. The business’s revenue was down 4.5% on a year-over-year basis. On average, sell-side analysts anticipate that MRC Global Inc. will post 1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Susquehanna reissued a “positive” rating and set a $16.00 target price on shares of MRC Global in a research note on Wednesday, June 26th. StockNews.com cut shares of MRC Global from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 13th.

MRC Global Company 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.