Deerfield Management Company L.P. Series C Makes New $145,000 Investment in MRC Global Inc. (NYSE:MRC)

Deerfield Management Company L.P. Series C bought a new position in shares of MRC Global Inc. (NYSE:MRC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,269 shares of the oil and gas company’s stock, valued at approximately $145,000.

A number of other large investors also recently modified their holdings of MRC. Vanguard Group Inc. grew its position in shares of MRC Global by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock valued at $115,391,000 after buying an additional 175,865 shares during the last quarter. Pzena Investment Management LLC boosted its stake in MRC Global by 5.1% in the first quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock valued at $92,521,000 after acquiring an additional 358,580 shares during the period. Engine Capital Management LP grew its holdings in shares of MRC Global by 30.0% during the fourth quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock valued at $42,574,000 after purchasing an additional 891,454 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of MRC Global by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock worth $47,629,000 after purchasing an additional 97,445 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of MRC Global by 7,541.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,342,896 shares of the oil and gas company’s stock worth $17,337,000 after purchasing an additional 1,325,323 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MRC shares. Susquehanna restated a “positive” rating and set a $16.00 price objective on shares of MRC Global in a research note on Wednesday, June 26th. StockNews.com upgraded shares of MRC Global from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th.

MRC Global Stock Up 1.2 %

Shares of MRC Global stock opened at $12.64 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.10. MRC Global Inc. has a 1-year low of $9.47 and a 1-year high of $14.91. The business’s fifty day moving average price is $12.85 and its two-hundred day moving average price is $12.71. The company has a market capitalization of $1.08 billion, a P/E ratio of 14.70 and a beta of 1.97.

MRC Global (NYSE:MRC) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The business had revenue of $832.00 million for the quarter, compared to analysts’ expectations of $831.32 million. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The company’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. As a group, research analysts forecast that MRC Global Inc. will post 0.91 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.