Clearbridge Investments LLC increased its stake in shares of MRC Global (NYSE:MRC) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,550,755 shares of the oil and gas company’s stock after acquiring an additional 174,888 shares during the quarter. Clearbridge Investments LLC owned about 2.70% of MRC Global worth $43,159,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in MRC. Citadel Advisors LLC increased its position in MRC Global by 60.9% during the third quarter. Citadel Advisors LLC now owns 3,078,500 shares of the oil and gas company’s stock worth $53,844,000 after acquiring an additional 1,164,950 shares during the period. Alliancebernstein L.P. increased its position in MRC Global by 28.5% during the fourth quarter. Alliancebernstein L.P. now owns 4,845,387 shares of the oil and gas company’s stock worth $81,984,000 after acquiring an additional 1,074,208 shares during the period. Thrivent Financial For Lutherans increased its position in MRC Global by 58.5% during the fourth quarter. Thrivent Financial For Lutherans now owns 2,276,750 shares of the oil and gas company’s stock worth $38,523,000 after acquiring an additional 840,210 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in MRC Global by 12.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,250,443 shares of the oil and gas company’s stock worth $71,917,000 after acquiring an additional 468,457 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in MRC Global by 147.6% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 227,008 shares of the oil and gas company’s stock worth $3,970,000 after acquiring an additional 135,325 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on MRC. ValuEngine lowered shares of MRC Global from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Stephens set a $24.00 price target on shares of MRC Global and gave the company a “buy” rating in a report on Saturday, February 17th. Alembic Global Advisors reissued a “buy” rating on shares of MRC Global in a report on Tuesday, February 20th. Zacks Investment Research raised shares of MRC Global from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $18.00 price target on shares of MRC Global in a report on Thursday, December 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. MRC Global has a consensus rating of “Buy” and a consensus target price of $20.56.
MRC Global stock traded down $0.30 on Thursday, hitting $17.75. 25,991 shares of the stock traded hands, compared to its average volume of 657,752. The company has a current ratio of 2.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. MRC Global has a fifty-two week low of $14.01 and a fifty-two week high of $20.77. The company has a market cap of $1,588.54, a price-to-earnings ratio of 66.85, a price-to-earnings-growth ratio of 1.63 and a beta of 1.56.
MRC Global (NYSE:MRC) last posted its earnings results on Thursday, February 15th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.06). MRC Global had a return on equity of 3.54% and a net margin of 1.37%. The firm had revenue of $903.00 million during the quarter, compared to the consensus estimate of $907.63 million. During the same period in the previous year, the company posted ($0.18) EPS. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. sell-side analysts predict that MRC Global will post 0.71 EPS for the current fiscal year.
In other news, Director Barbara J. Duganier sold 3,000 shares of the company’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $17.49, for a total value of $52,470.00. Following the sale, the director now owns 21,262 shares of the company’s stock, valued at approximately $371,872.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew R. Lane sold 180,621 shares of the company’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $19.00, for a total transaction of $3,431,799.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 476,775 shares of company stock worth $9,054,195. 6.30% of the stock is owned by insiders.
About MRC Global
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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