Monarch Partners Asset Management LLC cut its position in shares of MRC Global Inc. (NYSE:MRC) by 43.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 477,591 shares of the oil and gas company’s stock after selling 366,850 shares during the period. Monarch Partners Asset Management LLC’s holdings in MRC Global were worth $7,890,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of MRC Global by 17,937.8% in the first quarter. BlackRock Inc. now owns 7,126,027 shares of the oil and gas company’s stock worth $130,618,000 after buying an additional 7,086,521 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in shares of MRC Global during the first quarter worth about $28,656,000. Vanguard Group Inc. raised its stake in shares of MRC Global by 12.5% in the first quarter. Vanguard Group Inc. now owns 8,073,947 shares of the oil and gas company’s stock worth $147,994,000 after buying an additional 894,581 shares during the last quarter. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of MRC Global during the first quarter worth about $14,983,000. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of MRC Global during the first quarter worth about $11,659,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.
Shares of MRC Global Inc. (MRC) opened at 15.71 on Friday. The firm’s 50-day moving average price is $16.27 and its 200-day moving average price is $18.36. MRC Global Inc. has a 12-month low of $13.50 and a 12-month high of $22.52. The stock’s market cap is $1.48 billion.
MRC Global (NYSE:MRC) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The business had revenue of $922 million during the quarter, compared to analyst estimates of $916.82 million. MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. The business’s revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) EPS. On average, analysts forecast that MRC Global Inc. will post $0.15 EPS for the current fiscal year.
MRC has been the subject of a number of research reports. Raymond James Financial, Inc. upgraded MRC Global from a “market perform” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday, April 19th. Seaport Global Securities lowered MRC Global from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $17.00 in a report on Wednesday, June 21st. BidaskClub upgraded MRC Global from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. KeyCorp reiterated a “sector weight” rating on shares of MRC Global in a report on Friday, May 26th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of MRC Global in a report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $21.50.
About MRC Global
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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