Mirae Asset Global Investments Co. Ltd. trimmed its position in MRC Global Inc. (NYSE:MRC – Free Report) by 28.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,051,160 shares of the oil and gas company’s stock after selling 422,815 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 1.26% of MRC Global worth $10,217,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of MRC. American Century Companies Inc. boosted its position in MRC Global by 69.7% in the fourth quarter. American Century Companies Inc. now owns 2,820,071 shares of the oil and gas company’s stock worth $32,656,000 after purchasing an additional 1,158,212 shares during the last quarter. Royce & Associates LP lifted its position in shares of MRC Global by 132.9% during the 1st quarter. Royce & Associates LP now owns 1,792,108 shares of the oil and gas company’s stock valued at $17,419,000 after buying an additional 1,022,608 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of MRC Global during the 1st quarter valued at about $10,955,000. Vanguard Group Inc. lifted its position in shares of MRC Global by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,305,105 shares of the oil and gas company’s stock valued at $59,714,000 after buying an additional 455,224 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of MRC Global by 6.6% during the 3rd quarter. BlackRock Inc. now owns 6,384,542 shares of the oil and gas company’s stock valued at $45,905,000 after buying an additional 393,266 shares in the last quarter.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on MRC. TheStreet raised MRC Global from a “c+” rating to a “b-” rating in a research report on Friday, July 14th. Susquehanna lowered their price objective on MRC Global from $15.00 to $12.00 in a research report on Wednesday, May 10th. StockNews.com began coverage on MRC Global in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Stifel Nicolaus lowered their price objective on MRC Global from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, April 17th.
MRC Global Stock Down 0.2 %
Shares of MRC opened at $11.15 on Tuesday. The business’s 50 day moving average is $10.29 and its 200 day moving average is $10.33. The company has a market capitalization of $938.94 million, a PE ratio of 13.77 and a beta of 2.20. MRC Global Inc. has a 12-month low of $7.03 and a 12-month high of $13.90. The company has a current ratio of 2.10, a quick ratio of 0.99 and a debt-to-equity ratio of 0.94.
MRC Global (NYSE:MRC – Get Free Report) last issued its earnings results on Monday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $885.00 million for the quarter, compared to the consensus estimate of $860.17 million. MRC Global had a return on equity of 36.34% and a net margin of 2.65%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS. Research analysts expect that MRC Global Inc. will post 1.52 earnings per share for the current fiscal year.
MRC Global Profile
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the gas utility, energy, and industrial end-markets in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components, as well as valve modification services; and measurement, steam, and instrumentation products.
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