Victory Capital Management Inc. Increases Stake in MRC Global Inc. (NYSE:MRC)

Victory Capital Management Inc. raised its position in MRC Global Inc. (NYSE:MRC) by 2.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,369,515 shares of the oil and gas company’s stock after purchasing an additional 26,619 shares during the period. Victory Capital Management Inc. owned 1.61% of MRC Global worth $17,448,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC lifted its holdings in MRC Global by 0.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 300,195 shares of the oil and gas company’s stock valued at $3,824,000 after purchasing an additional 1,063 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in MRC Global by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 72,238 shares of the oil and gas company’s stock valued at $933,000 after purchasing an additional 1,149 shares in the last quarter. ProShare Advisors LLC lifted its holdings in MRC Global by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company’s stock valued at $190,000 after purchasing an additional 1,186 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in MRC Global by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,061 shares of the oil and gas company’s stock valued at $414,000 after purchasing an additional 1,289 shares in the last quarter. Finally, CWM LLC lifted its holdings in MRC Global by 308.2% in the 2nd quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,951 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

MRC Global Stock Down 0.7 %

Shares of MRC opened at $13.31 on Wednesday. MRC Global Inc. has a 52-week low of $9.77 and a 52-week high of $14.91. The company has a market capitalization of $1.13 billion, a PE ratio of 15.30 and a beta of 1.97. The stock has a fifty day simple moving average of $12.70 and a two-hundred day simple moving average of $12.88. 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 data on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was down 10.2% on a year-over-year basis. During the same period last year, the company earned $0.32 EPS. As a group, equities analysts forecast that MRC Global Inc. will post 0.89 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on MRC. StockNews.com downgraded MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 9th. Susquehanna raised their target price on MRC Global from $16.00 to $17.00 and gave the stock a “positive” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus raised their target price on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th.

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.