31,340 Shares in MRC Global Inc. (MRC) Acquired by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. purchased a new position in MRC Global Inc. (NYSE:MRC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 31,340 shares of the oil and gas company’s stock, valued at approximately $518,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new stake in MRC Global in the 1st quarter worth $148,000. Envestnet Asset Management Inc. boosted its stake in MRC Global by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 8,569 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 321 shares during the last quarter. Redwood Investments LLC boosted its stake in MRC Global by 20.2% during the 1st quarter. Redwood Investments LLC now owns 9,237 shares of the oil and gas company’s stock worth $169,000 after purchasing an additional 1,554 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in MRC Global during the 1st quarter worth $202,000. Finally, Laurion Capital Management LP acquired a new stake in MRC Global during the 1st quarter worth $227,000. 97.21% of the stock is owned by institutional investors.
Shares of MRC Global Inc. (NYSE MRC) opened at 17.19 on Monday. The company’s 50 day moving average is $16.18 and its 200-day moving average is $17.48. The stock’s market capitalization is $1.62 billion. MRC Global Inc. has a 1-year low of $13.68 and a 1-year high of $22.52.
MRC Global (NYSE:MRC) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $922.00 million during the quarter, compared to analyst estimates of $916.82 million. MRC Global had a negative net margin of 1.40% and a positive return on equity of 0.39%. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) earnings per share. Equities analysts anticipate that MRC Global Inc. will post $0.14 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on the stock. Cowen and Company lifted their target price on shares of MRC Global from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. J P Morgan Chase & Co lowered their target price on shares of MRC Global from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 12th. Robert W. Baird reissued a “hold” rating and set a $21.00 price target on shares of MRC Global in a research report on Sunday, September 10th. Stifel Nicolaus started coverage on shares of MRC Global in a research report on Tuesday, June 6th. They set a “buy” rating and a $22.00 price target on the stock. Finally, ValuEngine cut shares of MRC Global from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. MRC Global currently has a consensus rating of “Hold” and a consensus target price of $21.30.
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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