Algert Global LLC Sells 83,622 Shares of MRC Global Inc. (NYSE:MRC)

Algert Global LLC lessened its stake in shares of MRC Global Inc. (NYSE:MRC) by 27.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 218,599 shares of the oil and gas company’s stock after selling 83,622 shares during the period. Algert Global LLC’s holdings in MRC Global were worth $2,785,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Rhumbline Advisers increased its holdings in MRC Global by 62.0% during the 2nd quarter. Rhumbline Advisers now owns 247,047 shares of the oil and gas company’s stock worth $3,189,000 after purchasing an additional 94,566 shares during the period. Quest Partners LLC increased its stake in shares of MRC Global by 162.9% during the second quarter. Quest Partners LLC now owns 75,977 shares of the oil and gas company’s stock valued at $981,000 after buying an additional 47,075 shares during the period. Renaissance Technologies LLC raised its holdings in shares of MRC Global by 18.9% in the second quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company’s stock valued at $16,636,000 after acquiring an additional 204,600 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in MRC Global by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock worth $47,629,000 after acquiring an additional 97,445 shares during the period. Finally, Foundry Partners LLC bought a new position in MRC Global during the 2nd quarter worth about $4,418,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on MRC. Stifel Nicolaus boosted their price target on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. StockNews.com lowered MRC Global from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 9th. Finally, Susquehanna increased their target price on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Thursday, November 7th.

MRC Global Stock Down 0.3 %

NYSE:MRC opened at $14.01 on Wednesday. The company’s 50-day simple moving average is $12.86 and its 200-day simple moving average is $12.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. MRC Global Inc. has a fifty-two week low of $9.77 and a fifty-two week high of $14.91. The stock has a market capitalization of $1.19 billion, a P/E ratio of 16.10 and a beta of 1.97.

MRC Global (NYSE:MRC) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $797.00 million during the quarter, compared to the consensus estimate of $794.17 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. MRC Global’s revenue was down 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. On average, equities analysts anticipate that MRC Global Inc. will post 0.89 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.