Geode Capital Management LLC Buys 32,760 Shares of MRC Global Inc. (NYSE:MRC)

Geode Capital Management LLC grew its position in shares of MRC Global Inc. (NYSE:MRC) by 1.7% in the 3rd quarter, Holdings Channel reports. The firm owned 1,956,725 shares of the oil and gas company’s stock after acquiring an additional 32,760 shares during the quarter. Geode Capital Management LLC’s holdings in MRC Global were worth $24,934,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRC. Innealta Capital LLC bought a new stake in shares of MRC Global in the 2nd quarter valued at $45,000. Canada Pension Plan Investment Board acquired a new stake in shares of MRC Global in the 2nd quarter valued at about $56,000. DekaBank Deutsche Girozentrale bought a new stake in MRC Global in the 2nd quarter valued at about $56,000. nVerses Capital LLC acquired a new position in MRC Global during the 2nd quarter worth approximately $70,000. Finally, Quarry LP boosted its holdings in MRC Global by 162.8% in the second quarter. Quarry LP now owns 7,333 shares of the oil and gas company’s stock worth $95,000 after acquiring an additional 4,543 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

MRC Global Stock Down 2.0 %

Shares of NYSE:MRC opened at $12.63 on Friday. The business’s 50 day moving average is $13.23 and its 200 day moving average is $12.96. MRC Global Inc. has a 12-month low of $9.77 and a 12-month high of $14.91. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 14.52 and a beta of 1.97. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm had revenue of $797.00 million for the quarter, compared to the consensus estimate of $794.17 million. During the same period in the previous year, the firm earned $0.32 EPS. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that MRC Global Inc. will post 0.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. StockNews.com downgraded MRC Global from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 9th. 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 research note on Tuesday, October 15th. Finally, Susquehanna lifted their price objective on shares of MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a report on Thursday, November 7th.

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.