American Century Companies Inc. Sells 1,297,521 Shares of MRC Global Inc. (NYSE:MRC)

Posted by Defense World Staff on Sep 2nd, 2023

American Century Companies Inc. cut its holdings in MRC Global Inc. (NYSE:MRC – Free Report) by 46.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,522,550 shares of the oil and gas company’s stock after selling 1,297,521 shares during the quarter. American Century Companies Inc. owned about 1.82% of MRC Global worth $14,781,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Royce & Associates LP boosted its position in shares of MRC Global by 132.9% in the 1st quarter. Royce & Associates LP now owns 1,792,108 shares of the oil and gas company’s stock worth $17,419,000 after purchasing an additional 1,022,608 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in MRC Global during the first quarter worth about $10,955,000. Vanguard Group Inc. grew 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 worth $59,714,000 after buying an additional 455,224 shares during the period. BlackRock Inc. increased its stake in shares of MRC Global by 6.6% in 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 acquiring an additional 393,266 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of MRC Global in the 4th quarter valued at about $3,857,000.

MRC Global Stock Performance

MRC opened at $9.75 on Friday. The company has a market capitalization of $819.12 million, a price-to-earnings ratio of 10.48 and a beta of 2.20. The business’s 50-day moving average price is $10.10 and its two-hundred day moving average price is $9.90. MRC Global Inc. has a 1 year low of $7.03 and a 1 year high of $13.90. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.16 and a quick ratio of 1.01.

MRC Global (NYSE:MRC – Get Free Report) last posted its quarterly earnings data on Monday, August 7th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.11). The firm had revenue of $871.00 million for the quarter, compared to the consensus estimate of $914.58 million. MRC Global had a return on equity of 34.08% and a net margin of 2.92%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. Equities analysts expect that MRC Global Inc. will post 1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MRC shares. StockNews.com started coverage on shares of MRC Global in a report on Thursday, August 17th. They issued a “buy” rating on the stock. TheStreet upgraded MRC Global from a “c+” rating to a “b-” rating in a report on Friday, July 14th. Stephens reiterated an “overweight” rating and set a $17.00 price objective on shares of MRC Global in a report on Tuesday, August 8th. Finally, Susquehanna lowered their target price on MRC Global from $15.00 to $12.00 in a research note on Wednesday, May 10th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $14.67.

Read Our Latest Research Report on MRC

About MRC Global

(Free Report)

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.