SummerHaven Investment Management LLC Buys 1,025 Shares of MRC Global Inc. (NYSE:MRC)

SummerHaven Investment Management LLC increased its stake in MRC Global Inc. (NYSE:MRC) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,162 shares of the oil and gas company’s stock after acquiring an additional 1,025 shares during the quarter. SummerHaven Investment Management LLC’s holdings in MRC Global were worth $772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bailard Inc. increased its position in shares of MRC Global by 78.7% during the fourth quarter. Bailard Inc. now owns 60,410 shares of the oil and gas company’s stock worth $665,000 after buying an additional 26,600 shares during the period. Mackenzie Financial Corp acquired a new position in MRC Global in the fourth quarter valued at approximately $120,000. Sequoia Financial Advisors LLC acquired a new stake in shares of MRC Global during the 4th quarter worth approximately $122,000. SG Americas Securities LLC bought a new position in MRC Global during the fourth quarter worth $152,000. Finally, Gladius Capital Management LP acquired a new position in shares of MRC Global during the third quarter valued at about $33,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MRC shares. Susquehanna raised their price objective on MRC Global from $13.00 to $15.00 and gave the company a “positive” rating in a research note on Monday, April 8th. Stephens reaffirmed an “overweight” rating and issued a $17.00 price objective on shares of MRC Global in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $15.33.

MRC Global Stock Down 0.1 %

MRC stock opened at $11.59 on Tuesday. The firm has a market capitalization of $978.08 million, a PE ratio of 11.14 and a beta of 1.99. The company has a quick ratio of 0.76, a current ratio of 1.48 and a debt-to-equity ratio of 0.02. MRC Global Inc. has a twelve month low of $8.15 and a twelve month high of $13.00. The stock’s 50 day moving average is $12.14 and its 200-day moving average is $11.14.

MRC Global (NYSE:MRC) last issued its quarterly earnings data on Tuesday, February 13th. The oil and gas company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.12. MRC Global had a return on equity of 26.92% and a net margin of 3.34%. The business had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $810.52 million. During the same period last year, the business earned $0.32 EPS. The business’s revenue was down 11.6% on a year-over-year basis. Sell-side analysts expect that MRC Global Inc. will post 1 EPS for the current fiscal year.

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.