Canada Pension Plan Investment Board Invests $56,000 in MRC Global Inc. (NYSE:MRC)

Canada Pension Plan Investment Board bought a new position in shares of MRC Global Inc. (NYSE:MRC) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 4,300 shares of the oil and gas company’s stock, valued at approximately $56,000.

Several other institutional investors also recently modified their holdings of MRC. Trexquant Investment LP acquired a new position in shares of MRC Global during the 4th quarter worth about $319,000. CastleKnight Management LP lifted its holdings in shares of MRC Global by 8.9% during the 4th quarter. CastleKnight Management LP now owns 170,600 shares of the oil and gas company’s stock valued at $1,878,000 after purchasing an additional 14,000 shares in the last quarter. Engine Capital Management LP lifted its holdings in shares of MRC Global by 30.0% during 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 purchasing an additional 891,454 shares in the last quarter. Appian Way Asset Management LP bought a new position in shares of MRC Global during the 4th quarter valued at about $4,745,000. Finally, Beryl Capital Management LLC bought a new position in shares of MRC Global during the 4th quarter valued at about $1,881,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

MRC Global Trading Up 1.2 %

Shares of MRC Global stock opened at $12.64 on Monday. MRC Global Inc. has a 12-month low of $9.47 and a 12-month high of $14.91. The stock has a market cap of $1.08 billion, a P/E ratio of 14.70 and a beta of 1.97. The company has a quick ratio of 1.10, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $12.85 and its 200-day moving average is $12.71.

MRC Global (NYSE:MRC) last announced its quarterly earnings data 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 return on equity of 22.35% and a net margin of 3.19%. The company had revenue of $832.00 million for the quarter, compared to analysts’ expectations of $831.32 million. During the same quarter in the prior year, the business posted $0.25 EPS. The business’s revenue was down 4.5% compared to the same quarter last year. Equities research analysts predict that MRC Global Inc. will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MRC. StockNews.com upgraded MRC Global from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Susquehanna restated a “positive” rating and issued a $16.00 target price on shares of MRC Global in a research note on Wednesday, June 26th.

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.