Hsbc Holdings PLC Lowers Holdings in MRC Global Inc. (NYSE:MRC)

Hsbc Holdings PLC reduced its stake in MRC Global Inc. (NYSE:MRC) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,335 shares of the oil and gas company’s stock after selling 1,585 shares during the period. Hsbc Holdings PLC’s holdings in MRC Global were worth $432,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MRC. CWM LLC lifted its position in MRC Global by 308.2% in the second 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 last quarter. Innealta Capital LLC purchased a new position in shares of MRC Global in the 2nd quarter valued at $45,000. DekaBank Deutsche Girozentrale bought a new position in MRC Global in the second quarter worth about $56,000. nVerses Capital LLC purchased a new position in MRC Global in the second quarter worth $70,000. Finally, New York State Teachers Retirement System purchased a new stake in MRC Global in the first quarter valued at about $94,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MRC. StockNews.com cut MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Susquehanna restated a “positive” rating and issued a $16.00 price objective on shares of MRC Global in a research report on Wednesday, June 26th.

MRC Global Stock Down 0.5 %

MRC stock opened at $12.68 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $12.78 and a two-hundred day moving average of $12.71. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 14.74 and a beta of 1.97. MRC Global Inc. has a 12 month low of $9.47 and a 12 month high of $14.91.

MRC Global (NYSE:MRC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The business had revenue of $832.00 million during the quarter, compared to the consensus estimate of $831.32 million. During the same quarter last year, the firm earned $0.25 EPS. The business’s revenue was down 4.5% compared to the same quarter last year. As a group, analysts forecast that MRC Global Inc. will post 0.91 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.