Broadview Advisors LLC Grows Holdings in MRC Global Inc. (MRC)
Broadview Advisors LLC grew its holdings in MRC Global Inc. (NYSE:MRC) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,550 shares of the oil and gas company’s stock after purchasing an additional 800 shares during the quarter. Broadview Advisors LLC owned about 0.11% of MRC Global worth $1,661,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MRC. Bank of New York Mellon Corp boosted its holdings in shares of MRC Global by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 470,065 shares of the oil and gas company’s stock worth $8,617,000 after purchasing an additional 13,649 shares during the last quarter. Comerica Bank acquired a new stake in shares of MRC Global in the first quarter valued at approximately $401,000. Karp Capital Management Corp acquired a new stake in shares of MRC Global in the first quarter valued at approximately $429,000. Parametric Portfolio Associates LLC increased its holdings in shares of MRC Global by 9.5% in the first quarter. Parametric Portfolio Associates LLC now owns 371,648 shares of the oil and gas company’s stock valued at $6,812,000 after purchasing an additional 32,345 shares during the last quarter. Finally, Oxford Asset Management acquired a new stake in shares of MRC Global in the first quarter valued at approximately $553,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of MRC Global Inc. (MRC) traded up 0.73% during trading on Wednesday, hitting $17.91. 208,952 shares of the stock traded hands. MRC Global Inc. has a 52-week low of $13.68 and a 52-week high of $22.52. The company’s 50 day moving average is $16.56 and its 200 day moving average is $17.40. The firm’s market cap is $1.69 billion.
MRC Global (NYSE:MRC) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The company 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 company’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.15) EPS. On average, equities research analysts predict that MRC Global Inc. will post $0.14 EPS for the current year.
MRC has been the topic of a number of analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $19.00 price objective on shares of MRC Global in a research note on Sunday, September 3rd. J P Morgan Chase & Co reduced their price target on MRC Global from $25.00 to $23.00 and set an “overweight” rating on the stock in a report 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. Seaport Global Securities cut shares of 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 research report on Wednesday, June 21st. Finally, BidaskClub raised shares of MRC Global from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. 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 company. MRC Global has a consensus rating of “Hold” and an average price target of $21.30.
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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