UBS Asset Management Americas Inc. Trims Stake in MRC Global Inc (NYSE:MRC)

UBS Asset Management Americas Inc. lowered its stake in shares of MRC Global Inc (NYSE:MRC) by 4.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 92,685 shares of the oil and gas company’s stock after selling 3,884 shares during the period. UBS Asset Management Americas Inc.’s holdings in MRC Global were worth $1,587,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Investors Research Corp lifted its position in MRC Global by 50.0% during the second quarter. Investors Research Corp now owns 1,800 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 600 shares during the period. Synovus Financial Corp lifted its position in MRC Global by 1.9% during the second quarter. Synovus Financial Corp now owns 46,034 shares of the oil and gas company’s stock valued at $793,000 after purchasing an additional 839 shares during the period. Aperio Group LLC lifted its position in MRC Global by 6.9% during the second quarter. Aperio Group LLC now owns 26,786 shares of the oil and gas company’s stock valued at $459,000 after purchasing an additional 1,722 shares during the period. Wintrust Investments LLC lifted its position in MRC Global by 6.0% during the second quarter. Wintrust Investments LLC now owns 72,600 shares of the oil and gas company’s stock valued at $1,243,000 after purchasing an additional 4,100 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in MRC Global by 4,119.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,599 shares of the oil and gas company’s stock valued at $79,000 after purchasing an additional 4,490 shares during the period. Institutional investors own 95.51% of the company’s stock.

A number of research analysts recently weighed in on MRC shares. Scotiabank downgraded shares of MRC Global from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $17.00 to $11.00 in a research report on Friday, September 6th. Cowen downgraded shares of MRC Global from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 12th. Raymond James set a $16.00 target price on shares of MRC Global and gave the company a “buy” rating in a report on Friday, September 6th. Stifel Nicolaus upped their target price on shares of MRC Global from $11.00 to $12.00 and gave the company a “hold” rating in a report on Tuesday, September 24th. Finally, ValuEngine raised shares of MRC Global from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $16.38.

Shares of MRC stock opened at $11.34 on Friday. MRC Global Inc has a 12 month low of $10.73 and a 12 month high of $18.92. The stock has a market cap of $897.92 million, a P/E ratio of 17.42, a P/E/G ratio of 0.89 and a beta of 2.07. The company has a current ratio of 2.62, a quick ratio of 1.22 and a debt-to-equity ratio of 1.34. The company has a 50 day simple moving average of $12.35 and a two-hundred day simple moving average of $15.29.

MRC Global (NYSE:MRC) last announced its earnings results on Thursday, August 1st. The oil and gas company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). MRC Global had a net margin of 1.88% and a return on equity of 11.23%. The business had revenue of $984.00 million for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, equities analysts forecast that MRC Global Inc will post 0.61 earnings per share for the current year.

About MRC Global

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.

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Institutional Ownership by Quarter for MRC Global (NYSE:MRC)

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