The Manufacturers Life Insurance Company Acquires 10,822 Shares of MRC Global Inc. (NYSE:MRC)

The Manufacturers Life Insurance Company raised its holdings in MRC Global Inc. (NYSE:MRC) by 33.8% in the third quarter, HoldingsChannel.com reports. The firm owned 42,883 shares of the oil and gas company’s stock after purchasing an additional 10,822 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MRC Global were worth $546,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. CWM LLC raised its position 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 buying an additional 1,951 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of MRC Global during the 2nd quarter worth $45,000. DekaBank Deutsche Girozentrale bought a new position in shares of MRC Global in the second quarter worth $56,000. Canada Pension Plan Investment Board acquired a new stake in MRC Global during the second quarter worth about $56,000. Finally, nVerses Capital LLC bought a new position in MRC Global in the 2nd quarter valued at about $70,000. Institutional investors own 94.97% of the company’s stock.

MRC Global Stock Performance

Shares of MRC Global stock opened at $13.22 on Friday. The stock 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 twelve month low of $9.77 and a twelve month high of $14.91. The company’s fifty day moving average is $13.20 and its 200 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 announced its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business had revenue of $797.00 million for the quarter, compared to analysts’ expectations of $794.17 million. During the same period in the prior year, the business posted $0.32 earnings per share. The firm’s revenue was down 10.2% on a year-over-year basis. Sell-side analysts forecast that MRC Global Inc. will post 0.85 EPS for the current year.

Wall Street Analyst Weigh In

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

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.