Wellington Management Group LLP Cuts Position in MRC Global Inc. (NYSE:MRC)

Wellington Management Group LLP decreased its stake in MRC Global Inc. (NYSE:MRC) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,002,126 shares of the oil and gas company’s stock after selling 8,865 shares during the period. Wellington Management Group LLP owned approximately 3.56% of MRC Global worth $33,053,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Engine Capital Management LP increased its position in shares of MRC Global by 30.0% in 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 buying an additional 891,454 shares in the last quarter. Dimensional Fund Advisors LP raised its position in MRC Global by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,327,337 shares of the oil and gas company’s stock worth $36,635,000 after acquiring an additional 36,845 shares during the last quarter. Kennedy Capital Management LLC lifted its holdings in shares of MRC Global by 1.0% in the third quarter. Kennedy Capital Management LLC now owns 2,094,016 shares of the oil and gas company’s stock valued at $21,464,000 after purchasing an additional 20,086 shares in the last quarter. American Century Companies Inc. grew its position in shares of MRC Global by 24.9% in the third quarter. American Century Companies Inc. now owns 1,989,178 shares of the oil and gas company’s stock valued at $20,389,000 after purchasing an additional 397,145 shares during the last quarter. Finally, Appian Way Asset Management LP purchased a new position in shares of MRC Global during the 4th quarter worth approximately $4,745,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Insider Buying and Selling

In other news, insider John P. Mccarthy sold 11,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $13.78, for a total transaction of $151,580.00. Following the completion of the sale, the insider now directly owns 85,674 shares of the company’s stock, valued at approximately $1,180,587.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John P. Mccarthy sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $13.78, for a total value of $151,580.00. Following the transaction, the insider now directly owns 85,674 shares in the company, valued at approximately $1,180,587.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Grant R. Bates sold 35,000 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $13.57, for a total value of $474,950.00. Following the sale, the insider now owns 110,191 shares of the company’s stock, valued at approximately $1,495,291.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,698 shares of company stock valued at $1,242,374. Insiders own 20.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MRC shares. StockNews.com upgraded MRC Global from a “buy” rating to a “strong-buy” rating in a report on Friday, May 10th. Susquehanna boosted their target price on shares of MRC Global from $15.00 to $16.00 and gave the company a “positive” rating in a research note on Friday, May 10th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $15.67.

MRC Global Trading Up 1.2 %

Shares of MRC Global stock opened at $12.27 on Tuesday. The firm has a market cap of $1.04 billion, a PE ratio of 14.27 and a beta of 2.03. The company has a quick ratio of 0.81, a current ratio of 1.48 and a debt-to-equity ratio of 0.01. MRC Global Inc. has a fifty-two week low of $8.15 and a fifty-two week high of $14.02. The business’s fifty day moving average is $12.52 and its two-hundred day moving average is $11.77.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. MRC Global had a return on equity of 23.60% and a net margin of 2.97%. The firm had revenue of $806.00 million for the quarter, compared to analyst estimates of $760.76 million. During the same period last year, the company earned $0.32 EPS. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. Analysts anticipate that MRC Global Inc. will post 1 earnings per share for the current 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.