MRC Global Inc. (MRC) Stake Held by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio continued to hold its position in shares of MRC Global Inc. (NYSE:MRC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,365 shares of the oil and gas company’s stock at the end of the first quarter. Public Employees Retirement System of Ohio’s holdings in MRC Global were worth $318,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Credit Suisse AG raised its position in shares of MRC Global by 2.5% in the first quarter. Credit Suisse AG now owns 130,580 shares of the oil and gas company’s stock valued at $2,392,000 after buying an additional 3,128 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of MRC Global during the first quarter valued at about $202,000. Cambria Investment Management L.P. raised its position in shares of MRC Global by 2.3% in the first quarter. Cambria Investment Management L.P. now owns 74,943 shares of the oil and gas company’s stock valued at $1,374,000 after buying an additional 1,677 shares in the last quarter. TVR Capital Management LP purchased a new position in shares of MRC Global during the first quarter valued at about $3,196,000. Finally, Bank of America Corp DE raised its position in shares of MRC Global by 36.3% in the first quarter. Bank of America Corp DE now owns 627,269 shares of the oil and gas company’s stock valued at $11,499,000 after buying an additional 167,116 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.
MRC Global Inc. (NYSE MRC) traded down 3.66% during midday trading on Monday, reaching $15.51. The company’s stock had a trading volume of 247,435 shares. MRC Global Inc. has a 52 week low of $13.50 and a 52 week high of $22.52. The firm has a 50 day moving average price of $16.50 and a 200-day moving average price of $18.58. The firm’s market cap is $1.47 billion.
MRC Global (NYSE:MRC) last announced its 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. MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. The business had revenue of $922 million for the quarter, compared to the consensus estimate of $916.82 million. During the same period in the prior year, the business posted ($0.15) earnings per share. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. On average, analysts forecast that MRC Global Inc. will post $0.19 earnings per share for the current fiscal year.
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Several brokerages recently issued reports on MRC. Cowen and Company boosted their price target on MRC Global from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Monday. Wells Fargo & Company restated a “market perform” rating and set a $17.00 price target (down from $20.00) on shares of MRC Global in a research note on Wednesday, July 12th. Stifel Nicolaus restated a “buy” rating on shares of MRC Global in a research note on Friday, July 7th. ValuEngine lowered MRC Global from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, 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 research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price 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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