MRC Global Inc. (NYSE:MRC) Stake Lessened by Verition Fund Management LLC

Verition Fund Management LLC lowered its holdings in MRC Global Inc. (NYSE:MRC) by 34.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,422 shares of the oil and gas company’s stock after selling 17,515 shares during the period. Verition Fund Management LLC’s holdings in MRC Global were worth $426,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MRC. CWM LLC lifted its holdings in shares of MRC Global by 308.2% in the second quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,951 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of MRC Global by 44.6% in the second quarter. SG Americas Securities LLC now owns 12,570 shares of the oil and gas company’s stock valued at $162,000 after purchasing an additional 3,877 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of MRC Global by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 72,238 shares of the oil and gas company’s stock worth $933,000 after acquiring an additional 1,149 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of MRC Global by 9.9% during the second quarter. Bank of New York Mellon Corp now owns 416,182 shares of the oil and gas company’s stock worth $5,373,000 after acquiring an additional 37,557 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of MRC Global during the second quarter worth $167,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analyst Ratings Changes

MRC has been the subject of several recent research reports. Stifel Nicolaus increased their price objective on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. StockNews.com lowered MRC Global from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 9th. Finally, Susquehanna increased their price objective on MRC Global from $16.00 to $17.00 and gave the stock a “positive” rating in a report on Thursday, November 7th.

MRC Global Trading Down 1.4 %

MRC Global stock opened at $13.41 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 15.41 and a beta of 1.97. MRC Global Inc. has a one year low of $9.77 and a one year high of $14.91. The company’s fifty day moving average price is $13.19 and its two-hundred day moving average price is $12.97.

MRC Global (NYSE:MRC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The firm had revenue of $797.00 million for the quarter, compared to the consensus estimate of $794.17 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The business’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. On average, analysts forecast that MRC Global Inc. will post 0.85 earnings per share for the current fiscal 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.