New York State Common Retirement Fund boosted its position in shares of MRC Global Inc. (NYSE:MRC) by 3.8% during the third quarter, Holdings Channel reports. The firm owned 155,254 shares of the company’s stock after buying an additional 5,731 shares during the period. New York State Common Retirement Fund owned about 0.16% of MRC Global worth $2,551,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in MRC. Alliancebernstein L.P. boosted its stake in shares of MRC Global by 4.5% in the second quarter. Alliancebernstein L.P. now owns 7,436,409 shares of the company’s stock worth $105,671,000 after buying an additional 317,837 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of MRC Global by 14.5% in the second quarter. Canada Pension Plan Investment Board now owns 532,620 shares of the company’s stock worth $7,569,000 after buying an additional 67,500 shares during the period. BlackRock Inc. boosted its stake in shares of MRC Global by 14.3% in the second quarter. BlackRock Inc. now owns 32,222 shares of the company’s stock worth $458,000 after buying an additional 4,022 shares during the period. Vanguard Group Inc. boosted its stake in shares of MRC Global by 4.0% in the second quarter. Vanguard Group Inc. now owns 6,918,797 shares of the company’s stock worth $98,316,000 after buying an additional 265,899 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in shares of MRC Global by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 14,120 shares of the company’s stock worth $201,000 after buying an additional 1,730 shares during the period. 99.26% of the stock is owned by hedge funds and other institutional investors.
Shares of MRC Global Inc. (NYSE:MRC) traded down 0.79% during trading on Friday, hitting $21.44. The stock had a trading volume of 628,199 shares. The firm’s market cap is $2.04 billion. The firm’s 50-day moving average is $20.85 and its 200-day moving average is $16.93. MRC Global Inc. has a one year low of $8.50 and a one year high of $22.52.
MRC Global (NYSE:MRC) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.08. The firm earned $793 million during the quarter, compared to analyst estimates of $759.67 million. MRC Global had a negative return on equity of 0.01% and a negative net margin of 13.92%. MRC Global’s quarterly revenue was down 26.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. Equities research analysts forecast that MRC Global Inc. will post ($0.47) EPS for the current year.
A number of research firms have weighed in on MRC. Cowen and Company raised MRC Global from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $16.00 to $18.00 in a research report on Tuesday, November 8th. Zacks Investment Research cut MRC Global from a “buy” rating to a “hold” rating in a research report on Monday, January 9th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. MRC Global presently has a consensus rating of “Buy” and an average price target of $18.00.
In related news, Director H B. Wehrle III sold 50,000 shares of the business’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $21.19, for a total value of $1,059,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.10% of the stock is owned by insiders.
MRC Global Company Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company operates through three segments: the United States of America, Canada and International. It has branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia, Australasia, the Middle East and Kazakhstan.
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