The Manufacturers Life Insurance Company lifted its stake in shares of MRC Global Inc. (NYSE:MRC – Free Report) by 4.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 32,061 shares of the oil and gas company’s stock after buying an additional 1,289 shares during the period. The Manufacturers Life Insurance Company’s holdings in MRC Global were worth $414,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of MRC Global by 4.0% during the first quarter. BNP Paribas Financial Markets now owns 78,428 shares of the oil and gas company’s stock valued at $986,000 after buying an additional 2,994 shares during the last quarter. Pzena Investment Management LLC lifted its position in MRC Global by 5.1% during the first quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock valued at $92,521,000 after purchasing an additional 358,580 shares during the period. Essex Investment Management Co. LLC raised its position in MRC Global by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 263,573 shares of the oil and gas company’s stock worth $3,313,000 after acquiring an additional 4,047 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in MRC Global in the first quarter worth approximately $201,000. Finally, Russell Investments Group Ltd. raised its position in shares of MRC Global by 13.5% during the 1st quarter. Russell Investments Group Ltd. now owns 163,006 shares of the oil and gas company’s stock valued at $2,049,000 after purchasing an additional 19,369 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.
MRC Global Price Performance
Shares of MRC opened at $12.40 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.08. The stock has a market capitalization of $1.05 billion, a PE ratio of 14.41 and a beta of 1.97. The company has a 50 day moving average price of $12.50 and a 200-day moving average price of $12.72. MRC Global Inc. has a fifty-two week low of $9.47 and a fifty-two week high of $14.91.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on MRC. Susquehanna restated a “positive” rating and set a $16.00 price objective on shares of MRC Global in a research report on Wednesday, June 26th. StockNews.com lowered shares of MRC Global from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 10th. Finally, Stifel Nicolaus lifted their price objective on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday.
View Our Latest Stock Analysis on MRC
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.
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