Algert Global LLC Sells 83,622 Shares of MRC Global Inc. (NYSE:MRC)

Algert Global LLC lowered its position in MRC Global Inc. (NYSE:MRC) by 27.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 218,599 shares of the oil and gas company’s stock after selling 83,622 shares during the period. Algert Global LLC owned about 0.26% of MRC Global worth $2,785,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MRC. Essex Investment Management Co. LLC boosted its stake in shares of MRC Global by 0.4% in the third quarter. Essex Investment Management Co. LLC now owns 300,195 shares of the oil and gas company’s stock worth $3,824,000 after acquiring an additional 1,063 shares during the period. SummerHaven Investment Management LLC lifted its position in shares of MRC Global by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 72,238 shares of the oil and gas company’s stock worth $933,000 after buying an additional 1,149 shares in the last quarter. ProShare Advisors LLC boosted its stake in MRC Global by 8.5% during the first quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company’s stock valued at $190,000 after buying an additional 1,186 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in MRC Global by 4.2% during 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 buying an additional 1,289 shares in the last quarter. Finally, CWM LLC increased its stake 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 worth $33,000 after acquiring an additional 1,951 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on MRC shares. StockNews.com downgraded MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 9th. Stifel Nicolaus boosted their target price on shares of MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Susquehanna upped their target price on shares of MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Thursday, November 7th.

MRC Global Stock Performance

NYSE:MRC opened at $14.01 on Wednesday. The firm has a market capitalization of $1.19 billion, a PE ratio of 16.10 and a beta of 1.97. The stock’s fifty day moving average is $12.86 and its 200 day moving average is $12.94. MRC Global Inc. has a fifty-two week low of $9.77 and a fifty-two week high of $14.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99.

MRC Global (NYSE:MRC) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The business had revenue of $797.00 million for the quarter, compared to the consensus estimate of $794.17 million. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, sell-side analysts anticipate that MRC Global Inc. will post 0.89 earnings per share for the current year.

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.