Rhumbline Advisers Boosts Stock Position in MRC Global Inc. (NYSE:MRC)

Rhumbline Advisers grew its stake in MRC Global Inc. (NYSE:MRC) by 62.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 247,047 shares of the oil and gas company’s stock after buying an additional 94,566 shares during the quarter. Rhumbline Advisers’ holdings in MRC Global were worth $3,189,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of MRC Global in the 1st quarter valued at about $963,000. Beryl Capital Management LLC acquired a new position in shares of MRC Global in the 4th quarter valued at about $1,881,000. Appian Way Asset Management LP acquired a new position in shares of MRC Global in the 4th quarter valued at about $4,745,000. Engine Capital Management LP lifted its holdings in shares of MRC Global by 30.0% in the 4th quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock valued at $42,574,000 after buying an additional 891,454 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of MRC Global in the 1st quarter valued at about $201,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

Analysts Set New Price Targets

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

MRC Global Stock Performance

NYSE MRC opened at $12.45 on Wednesday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 14.47 and a beta of 1.97. MRC Global Inc. has a twelve month low of $9.47 and a twelve month high of $14.91. 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 stock has a 50-day moving average of $13.05 and a 200 day moving average of $12.68.

MRC Global (NYSE:MRC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 EPS for the quarter, beating 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 business had revenue of $832.00 million during the quarter, compared to analysts’ expectations of $831.32 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The business’s revenue was down 4.5% compared to the same quarter last year. Sell-side analysts anticipate that MRC Global Inc. will post 0.91 EPS for the current fiscal year.

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.