Picton Mahoney Asset Management Buys New Position in MRC Global Inc. (NYSE:MRC)

Picton Mahoney Asset Management purchased a new stake in shares of MRC Global Inc. (NYSE:MRC) during the first quarter, HoldingsChannel reports. The fund purchased 37,306 shares of the oil and gas company’s stock, valued at approximately $429,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRC. Hsbc Holdings PLC lifted its position in MRC Global by 3.7% during the fourth quarter. Hsbc Holdings PLC now owns 34,562 shares of the oil and gas company’s stock valued at $440,000 after purchasing an additional 1,234 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of MRC Global by 3.8% in the 4th quarter. MetLife Investment Management LLC now owns 51,551 shares of the oil and gas company’s stock valued at $659,000 after purchasing an additional 1,886 shares in the last quarter. Federated Hermes Inc. increased its position in shares of MRC Global by 2.0% during the fourth quarter. Federated Hermes Inc. now owns 104,601 shares of the oil and gas company’s stock worth $1,337,000 after purchasing an additional 2,003 shares in the last quarter. Sterling Capital Management LLC increased its stake 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 in the last quarter. Finally, EP Wealth Advisors LLC increased its stake in MRC Global by 19.6% during the 4th quarter. EP Wealth Advisors LLC now owns 15,682 shares of the oil and gas company’s stock valued at $200,000 after purchasing an additional 2,567 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MRC shares. Susquehanna lowered their price target on shares of MRC Global from $15.00 to $13.00 and set a “positive” rating on the stock in a report on Monday, April 14th. Stifel Nicolaus reduced their price target on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, July 21st. Finally, Wall Street Zen upgraded shares of MRC Global from a “hold” rating to a “buy” rating in a report on Friday, June 6th.

MRC Global Stock Down 2.1%

Shares of NYSE:MRC opened at $14.81 on Thursday. The stock has a market cap of $1.27 billion, a P/E ratio of -134.64 and a beta of 1.61. The firm has a fifty day moving average price of $13.27 and a 200 day moving average price of $12.63. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.68 and a quick ratio of 0.91. MRC Global Inc. has a 1-year low of $9.23 and a 1-year high of $15.59.

MRC Global (NYSE:MRC) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. The company had revenue of $712.00 million during the quarter, compared to analysts’ expectations of $710.00 million. MRC Global had a net margin of 0.47% and a return on equity of 12.82%. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 earnings per share. Sell-side analysts predict that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global 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.