Pekin Hardy Strauss Inc. Has $8.23 Million Stock Position in MRC Global Inc. (NYSE:MRC)

Pekin Hardy Strauss Inc. decreased its position in shares of MRC Global Inc. (NYSE:MRC) by 20.3% in the fourth quarter, Holdings Channel reports. The fund owned 747,447 shares of the oil and gas company’s stock after selling 190,539 shares during the period. MRC Global accounts for 1.2% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 16th biggest holding. Pekin Hardy Strauss Inc.’s holdings in MRC Global were worth $8,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Gladius Capital Management LP bought a new position in MRC Global during the third quarter worth $33,000. Luminus Management LLC acquired a new stake in MRC Global in the 3rd quarter worth $42,000. Mackenzie Financial Corp bought a new position in shares of MRC Global during the 4th quarter worth about $120,000. Sequoia Financial Advisors LLC acquired a new position in shares of MRC Global during the fourth quarter valued at about $122,000. Finally, Principal Financial Group Inc. bought a new stake in shares of MRC Global in the third quarter valued at about $114,000. 94.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MRC has been the topic of several research reports. Stephens restated an “overweight” rating and set a $17.00 price target on shares of MRC Global in a research note on Wednesday, February 14th. Susquehanna upped their target price on MRC Global from $13.00 to $15.00 and gave the company a “positive” rating in a research note on Monday, April 8th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $15.33.

MRC Global Price Performance

NYSE:MRC traded down $0.36 during mid-day trading on Tuesday, hitting $11.23. The company’s stock had a trading volume of 403,143 shares, compared to its average volume of 559,850. The company has a market capitalization of $947.70 million, a price-to-earnings ratio of 11.14 and a beta of 1.99. The company has a current ratio of 1.48, a quick ratio of 0.76 and a debt-to-equity ratio of 0.02. MRC Global Inc. has a fifty-two week low of $8.15 and a fifty-two week high of $13.00. The stock has a fifty day moving average of $12.14 and a 200-day moving average of $11.14.

MRC Global (NYSE:MRC) last released its quarterly earnings data on Tuesday, February 13th. The oil and gas company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.12. The company had revenue of $768.00 million for the quarter, compared to analyst estimates of $810.52 million. MRC Global had a return on equity of 26.92% and a net margin of 3.34%. The company’s revenue was down 11.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 EPS. As a group, equities analysts forecast that MRC Global Inc. will post 1 EPS for the current fiscal year.

MRC Global Profile

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.