UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Position in MRC Global Inc. (NYSE:MRC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of MRC Global Inc. (NYSE:MRC) by 2.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 221,193 shares of the oil and gas company’s stock after selling 5,697 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in MRC Global were worth $2,818,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MRC. Pzena Investment Management LLC increased its position in shares of MRC Global by 0.4% during the third quarter. Pzena Investment Management LLC now owns 5,770,791 shares of the oil and gas company’s stock worth $73,520,000 after acquiring an additional 20,407 shares during the period. Dimensional Fund Advisors LP grew its stake in 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 in the last quarter. Victory Capital Management Inc. increased its holdings in MRC Global by 2.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,369,515 shares of the oil and gas company’s stock worth $17,448,000 after purchasing an additional 26,619 shares during the period. Renaissance Technologies LLC increased its holdings in MRC Global by 18.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company’s stock worth $16,636,000 after purchasing an additional 204,600 shares during the period. Finally, American Century Companies Inc. raised its position in MRC Global by 167.3% in the 2nd quarter. American Century Companies Inc. now owns 1,205,172 shares of the oil and gas company’s stock valued at $15,559,000 after purchasing an additional 754,376 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus raised 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 Tuesday, October 15th. StockNews.com cut MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 9th. Finally, Susquehanna lifted their price target 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 opened at $13.22 on Friday. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 15.20 and a beta of 1.97. MRC Global Inc. has a 52 week low of $9.77 and a 52 week high of $14.91. The business’s 50 day moving average is $13.20 and its two-hundred day moving average is $12.97. 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, November 5th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. The firm had revenue of $797.00 million during the quarter, compared to the consensus estimate of $794.17 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share. On average, research analysts predict that MRC Global Inc. will post 0.85 EPS 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.