Cornercap Investment Counsel Inc. Cuts Position in MRC Global Inc. (NYSE:MRC)

Cornercap Investment Counsel Inc. lowered its stake in shares of MRC Global Inc. (NYSE:MRC) by 47.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,228 shares of the oil and gas company’s stock after selling 40,540 shares during the quarter. Cornercap Investment Counsel Inc. owned 0.05% of MRC Global worth $487,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. American Century Companies Inc. increased its position in shares of MRC Global by 24.9% during the third quarter. American Century Companies Inc. now owns 1,989,178 shares of the oil and gas company’s stock worth $20,389,000 after acquiring an additional 397,145 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of MRC Global by 303.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,740 shares of the oil and gas company’s stock worth $1,176,000 after acquiring an additional 86,333 shares during the period. Wellington Management Group LLP increased its holdings in MRC Global by 22.9% in the third quarter. Wellington Management Group LLP now owns 3,010,991 shares of the oil and gas company’s stock valued at $30,863,000 after buying an additional 561,706 shares during the last quarter. Luminus Management LLC purchased a new position in MRC Global in the third quarter valued at $42,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in MRC Global by 9.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,651 shares of the oil and gas company’s stock valued at $12,778,000 after buying an additional 104,959 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analyst Upgrades and Downgrades

MRC has been the subject of several research analyst reports. Stephens restated an “overweight” rating and issued a $17.00 price objective on shares of MRC Global in a research note on Wednesday, February 14th. Susquehanna upped their price objective on shares of MRC Global from $13.00 to $15.00 and gave the company a “positive” rating in a research note on Monday, April 8th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, MRC Global presently has an average rating of “Buy” and an average price target of $15.25.

MRC Global Price Performance

Shares of MRC opened at $11.81 on Wednesday. MRC Global Inc. has a fifty-two week low of $8.15 and a fifty-two week high of $13.00. The company has a market capitalization of $996.65 million, a price-to-earnings ratio of 11.36 and a beta of 1.99. The firm has a 50-day simple moving average of $12.05 and a 200-day simple moving average of $11.03. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.76 and a current ratio of 1.48.

MRC Global (NYSE:MRC) last announced its earnings results on Tuesday, February 13th. The oil and gas company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.12. MRC Global had a net margin of 3.34% and a return on equity of 26.92%. The business had revenue of $768.00 million during the quarter, compared to the consensus estimate of $810.52 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was down 11.6% compared to the same quarter last year. On average, equities research analysts anticipate that MRC Global Inc. will post 0.97 earnings per share for the current 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.