Cornercap Investment Counsel Inc. Reduces Holdings in MRC Global Inc. (NYSE:MRC)

Cornercap Investment Counsel Inc. decreased its position in shares of MRC Global Inc. (NYSE:MRC) by 47.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 44,228 shares of the oil and gas company’s stock after selling 40,540 shares during the period. Cornercap Investment Counsel Inc.’s holdings in MRC Global were worth $487,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new stake in shares of MRC Global in the 3rd quarter worth approximately $33,000. Luminus Management LLC acquired a new stake in shares of MRC Global in the 3rd quarter worth approximately $42,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of MRC Global in the 4th quarter worth approximately $45,000. Quarry LP lifted its stake in shares of MRC Global by 542.4% in the 1st quarter. Quarry LP now owns 5,242 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 4,426 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of MRC Global in the 3rd quarter worth approximately $61,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

MRC Global Stock Down 1.2 %

NYSE MRC opened at $11.81 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.48 and a quick ratio of 0.76. The company’s 50 day simple moving average is $12.05 and its 200 day simple moving average is $11.03. MRC Global Inc. has a 12 month low of $8.15 and a 12 month high of $13.00. The company has a market capitalization of $996.65 million, a P/E ratio of 11.36 and a beta of 1.99.

MRC Global (NYSE:MRC) last released its earnings results on Tuesday, February 13th. The oil and gas company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. MRC Global had a net margin of 3.34% and a return on equity of 26.92%. The business had revenue of $768.00 million for the quarter, compared to the consensus estimate of $810.52 million. During the same period in the previous year, the firm earned $0.32 EPS. The business’s revenue for the quarter was down 11.6% on a year-over-year basis. Equities research analysts expect that MRC Global Inc. will post 0.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MRC. Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of MRC Global in a report on Wednesday, February 14th. Susquehanna boosted their target price on shares of MRC Global from $13.00 to $15.00 and gave the stock a “positive” rating in a report on Monday, April 8th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $15.25.

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.