Alliancebernstein L.P. boosted its stake in shares of MRC Global (NYSE:MRC) by 28.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,845,387 shares of the oil and gas company’s stock after acquiring an additional 1,074,208 shares during the period. Alliancebernstein L.P. owned 5.13% of MRC Global worth $81,984,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Mackenzie Financial Corp grew its stake in MRC Global by 10.0% during the fourth quarter. Mackenzie Financial Corp now owns 976,000 shares of the oil and gas company’s stock valued at $16,514,000 after acquiring an additional 89,000 shares in the last quarter. Wells Fargo & Company MN grew its stake in MRC Global by 1.4% during the third quarter. Wells Fargo & Company MN now owns 2,115,906 shares of the oil and gas company’s stock valued at $37,008,000 after acquiring an additional 29,014 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in MRC Global during the third quarter valued at $929,000. Schwab Charles Investment Management Inc. grew its stake in MRC Global by 5.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 918,183 shares of the oil and gas company’s stock valued at $16,060,000 after acquiring an additional 46,395 shares in the last quarter. Finally, Algert Global LLC grew its stake in MRC Global by 14.1% during the third quarter. Algert Global LLC now owns 160,369 shares of the oil and gas company’s stock valued at $2,805,000 after acquiring an additional 19,834 shares in the last quarter. 98.43% of the stock is owned by institutional investors.
In related news, CEO Andrew R. Lane sold 180,621 shares of MRC Global stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $19.00, for a total transaction of $3,431,799.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barbara J. Duganier sold 3,000 shares of MRC Global stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $17.49, for a total transaction of $52,470.00. Following the sale, the director now owns 21,262 shares of the company’s stock, valued at approximately $371,872.38. The disclosure for this sale can be found here. Insiders have sold a total of 476,775 shares of company stock valued at $9,054,195 in the last quarter. 7.00% of the stock is currently owned by company insiders.
A number of equities analysts have commented on MRC shares. Alembic Global Advisors reissued a “buy” rating on shares of MRC Global in a research note on Friday, January 19th. Stifel Nicolaus reissued a “buy” rating and issued a $22.00 price objective (up from $18.00) on shares of MRC Global in a research note on Tuesday, January 16th. Susquehanna Bancshares set a $21.00 price objective on shares of MRC Global and gave the stock a “buy” rating in a research note on Friday, January 12th. Stephens set a $24.00 price objective on shares of MRC Global and gave the stock a “buy” rating in a research note on Saturday, February 17th. Finally, Zacks Investment Research raised shares of MRC Global from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $20.56.
Shares of MRC stock traded down $0.27 during trading hours on Monday, reaching $16.17. 892,699 shares of the stock were exchanged, compared to its average volume of 692,397. MRC Global has a 12-month low of $14.01 and a 12-month high of $20.77. The company has a current ratio of 2.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The stock has a market cap of $1,501.76, a PE ratio of 539.00, a P/E/G ratio of 1.54 and a beta of 1.49.
MRC Global (NYSE:MRC) last released 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 firm had revenue of $903.00 million for the quarter, compared to analysts’ expectations of $907.63 million. During the same period in the prior year, the firm posted ($0.18) earnings per share. MRC Global’s revenue for the quarter was up 25.6% on a year-over-year basis. sell-side analysts forecast that MRC Global will post 0.71 EPS for the current year.
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MRC Global 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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