Price T Rowe Associates Inc. MD Increases Holdings in MRC Global Inc. (NYSE:MRC)

Price T Rowe Associates Inc. MD lifted its position in shares of MRC Global Inc. (NYSE:MRC) by 11.4% during the fourth quarter, HoldingsChannel reports. The firm owned 81,304 shares of the oil and gas company’s stock after purchasing an additional 8,328 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in MRC Global were worth $1,040,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank bought a new stake in shares of MRC Global in the fourth quarter worth $34,000. Sterling Capital Management LLC boosted its position in MRC Global by 821.2% during the 4th quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 2,406 shares during the period. Meeder Asset Management Inc. bought a new position in shares of MRC Global during the fourth quarter worth about $56,000. Longboard Asset Management LP bought a new stake in shares of MRC Global during the fourth quarter valued at approximately $134,000. Finally, Ieq Capital LLC acquired a new position in MRC Global during the 4th quarter worth $187,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday. Loop Capital lowered their price target on MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Susquehanna cut their price objective on MRC Global from $15.00 to $13.00 and set a “positive” rating for the company in a report on Monday, April 14th. Finally, StockNews.com upgraded shares of MRC Global from a “hold” rating to a “buy” rating in a research report on Wednesday.

MRC Global Trading Down 0.6 %

NYSE:MRC opened at $12.27 on Friday. The stock has a fifty day simple moving average of $11.27 and a 200 day simple moving average of $12.64. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 14.10 and a beta of 1.63. MRC Global Inc. has a 1-year low of $9.23 and a 1-year high of $15.41. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.08 by $0.06. The business had revenue of $712.00 million during the quarter, compared to the consensus estimate of $710.00 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 EPS. Sell-side analysts forecast that MRC Global Inc. will post 0.86 earnings per share for the current year.

About MRC Global

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.