SIR Capital Management L.P. lowered its stake in MRC Global Inc (NYSE:MRC) by 61.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 174,720 shares of the oil and gas company’s stock after selling 277,723 shares during the period. SIR Capital Management L.P. owned approximately 0.18% of MRC Global worth $2,956,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Knightsbridge Asset Management LLC purchased a new position in MRC Global during the 4th quarter valued at about $195,000. Wayne Hummer Investments L.L.C. increased its holdings in MRC Global by 92.2% during the 4th quarter. Wayne Hummer Investments L.L.C. now owns 62,100 shares of the oil and gas company’s stock valued at $1,051,000 after purchasing an additional 29,785 shares during the period. Koch Industries Inc. purchased a new position in MRC Global during the 4th quarter valued at about $217,000. Alliancebernstein L.P. increased its holdings in MRC Global by 28.5% during the 4th quarter. Alliancebernstein L.P. now owns 4,845,387 shares of the oil and gas company’s stock valued at $81,984,000 after purchasing an additional 1,074,208 shares during the period. Finally, BP Capital Fund Advisors LLC increased its holdings in MRC Global by 39.8% during the 4th quarter. BP Capital Fund Advisors LLC now owns 287,568 shares of the oil and gas company’s stock valued at $4,866,000 after purchasing an additional 81,872 shares during the period. Hedge funds and other institutional investors own 98.67% of the company’s stock.
In other news, CEO Andrew R. Lane sold 180,621 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $19.00, for a total value of $3,431,799.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barbara J. Duganier sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $17.49, for a total value of $52,470.00. Following the completion of the sale, the director now directly owns 21,262 shares in the company, valued at $371,872.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 476,775 shares of company stock worth $9,054,195. Insiders own 6.30% of the company’s stock.
A number of research analysts recently issued reports on the company. Alembic Global Advisors restated a “buy” rating on shares of MRC Global in a report on Tuesday, February 20th. Stephens set a $24.00 price objective on MRC Global and gave the company a “buy” rating in a research report on Saturday, February 17th. ValuEngine cut MRC Global from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Zacks Investment Research raised MRC Global from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $22.00 price objective (up from $18.00) on shares of MRC Global in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $20.56.
MRC Global Inc (NYSE:MRC) traded down $0.04 during trading on Wednesday, reaching $18.02. The company’s stock had a trading volume of 489,732 shares, compared to its average volume of 652,263. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 2.35. MRC Global Inc has a fifty-two week low of $14.01 and a fifty-two week high of $20.77. The company has a market cap of $1,655.22, a PE ratio of 66.89, a price-to-earnings-growth ratio of 1.75 and a beta of 1.56.
MRC Global (NYSE:MRC) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). MRC Global had a return on equity of 3.54% and a net margin of 1.37%. The company had revenue of $903.00 million during the quarter, compared to the consensus estimate of $907.63 million. During the same period in the prior year, the firm earned ($0.18) earnings per share. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. equities analysts forecast that MRC Global Inc will post 0.69 EPS for the current year.
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MRC Global Company Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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