Kennedy Capital Management LLC Boosts Stock Holdings in MRC Global Inc. $MRC

Kennedy Capital Management LLC boosted its stake in MRC Global Inc. (NYSE:MRC) by 91.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 747,119 shares of the oil and gas company’s stock after purchasing an additional 356,089 shares during the quarter. Kennedy Capital Management LLC’s holdings in MRC Global were worth $10,243,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. LPL Financial LLC grew its holdings in MRC Global by 97.1% during the 1st quarter. LPL Financial LLC now owns 158,490 shares of the oil and gas company’s stock valued at $1,819,000 after buying an additional 78,086 shares in the last quarter. Invesco Ltd. increased its position in shares of MRC Global by 62.8% during the 1st quarter. Invesco Ltd. now owns 478,848 shares of the oil and gas company’s stock valued at $5,497,000 after purchasing an additional 184,775 shares during the last quarter. Nuveen LLC purchased a new stake in MRC Global during the 1st quarter valued at $14,081,000. Lord Abbett & CO. LLC lifted its position in MRC Global by 336.0% in the first quarter. Lord Abbett & CO. LLC now owns 3,498,499 shares of the oil and gas company’s stock worth $40,163,000 after buying an additional 2,696,044 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. bought a new stake in MRC Global in the first quarter worth $364,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

MRC Global Trading Down 0.5%

NYSE MRC opened at $13.78 on Friday. The stock has a market cap of $1.17 billion, a PE ratio of -57.40 and a beta of 1.63. MRC Global Inc. has a 12 month low of $9.23 and a 12 month high of $15.59. The company’s 50-day moving average price is $13.93 and its 200-day moving average price is $13.82. The company has a current ratio of 1.84, a quick ratio of 1.00 and a debt-to-equity ratio of 0.83.

MRC Global (NYSE:MRC) last released its quarterly earnings data on Thursday, May 26th. The oil and gas company reported ($0.07) earnings per share (EPS) for the quarter. The company had revenue of $609.00 million during the quarter. MRC Global had a negative net margin of 0.10% and a positive return on equity of 11.81%. Equities research analysts forecast that MRC Global Inc. will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MRC shares. Susquehanna cut shares of MRC Global from a “positive” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research report on Thursday, October 2nd. Loop Capital cut shares of MRC Global from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a research note on Monday, October 27th. Weiss Ratings reiterated a “hold (c-)” rating on shares of MRC Global in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of MRC Global to a “hold” rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, MRC Global presently has a consensus rating of “Hold” and a consensus price target of $15.67.

MRC Global Company 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.