Envestnet Asset Management Inc. decreased its stake in MRC Global Inc (NYSE:MRC) by 3.3% during the fourth quarter, Holdings Channel reports. The firm owned 8,248 shares of the company’s stock after selling 281 shares during the period. Envestnet Asset Management Inc.’s holdings in MRC Global were worth $167,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Malaga Cove Capital LLC bought a new stake in shares of MRC Global during the third quarter valued at approximately $1,667,000. Aperio Group LLC increased its stake in shares of MRC Global by 30.7% in the third quarter. Aperio Group LLC now owns 33,059 shares of the company’s stock valued at $543,000 after buying an additional 7,773 shares during the period. Dudley & Shanley LLC increased its stake in shares of MRC Global by 180.6% in the third quarter. Dudley & Shanley LLC now owns 87,000 shares of the company’s stock valued at $1,429,000 after buying an additional 56,000 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of MRC Global during the third quarter valued at approximately $179,000. Finally, UBS Asset Management Americas Inc. increased its stake in shares of MRC Global by 6.4% in the third quarter. UBS Asset Management Americas Inc. now owns 120,404 shares of the company’s stock valued at $1,978,000 after buying an additional 7,244 shares during the period.
Shares of MRC Global Inc (NYSE:MRC) opened at 18.33 on Friday. The firm’s market capitalization is $1.74 billion. The stock has a 50 day moving average of $19.22 and a 200-day moving average of $18.57. MRC Global Inc has a 12-month low of $11.50 and a 12-month high of $22.52.
MRC has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of MRC Global from a “buy” rating to a “hold” rating in a report on Monday, January 9th. TheStreet upgraded shares of MRC Global from a “d+” rating to a “c” rating in a report on Thursday, February 16th. Seaport Global Securities upgraded shares of MRC Global from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $25.00 in a report on Tuesday, February 21st. Finally, Evercore ISI lifted their price objective on shares of MRC Global to $25.00 in a report on Wednesday, February 22nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $21.40.
In other news, EVP Daniel J. Churay sold 3,080 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $21.30, for a total transaction of $65,604.00. Following the completion of the sale, the executive vice president now directly owns 63,349 shares of the company’s stock, valued at approximately $1,349,333.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 6.10% of the company’s stock.
MRC Global Company 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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