Ameriprise Financial Inc. lowered its stake in MRC Global Inc. (NYSE:MRC) by 7.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 586,558 shares of the company’s stock after selling 50,385 shares during the period. Ameriprise Financial Inc. owned 0.61% of MRC Global worth $8,335,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Synovus Financial Corp raised its position in MRC Global by 1.7% in the second quarter. Synovus Financial Corp now owns 28,554 shares of the company’s stock valued at $404,000 after buying an additional 479 shares during the last quarter. Kempen Capital Management N.V. raised its position in MRC Global by 27.3% in the first quarter. Kempen Capital Management N.V. now owns 8,485 shares of the company’s stock valued at $111,000 after buying an additional 1,821 shares during the last quarter. Springbok Capital Management LLC bought a new position in MRC Global during the first quarter valued at about $108,000. Fortaleza Asset Management Inc. bought a new position in MRC Global during the second quarter valued at about $118,000. Finally, Menta Capital LLC raised its position in MRC Global by 13.2% in the first quarter. Menta Capital LLC now owns 74,700 shares of the company’s stock valued at $982,000 after buying an additional 8,700 shares during the last quarter. Institutional investors and hedge funds own 99.30% of the company’s stock.
MRC Global Inc. (NYSE:MRC) traded up 3.04% on Wednesday, hitting $16.96. The stock had a trading volume of 495,692 shares. The stock’s 50-day moving average is $14.88 and its 200 day moving average is $14.09. The firm’s market capitalization is $1.63 billion. MRC Global Inc. has a 1-year low of $8.50 and a 1-year high of $16.98.
MRC Global (NYSE:MRC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by $0.07. MRC Global had a positive return on equity of 1.60% and a negative net margin of 11.27%. The company had revenue of $746 million for the quarter, compared to the consensus estimate of $747.81 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The company’s revenue was down 37.7% compared to the same quarter last year. On average, equities research analysts predict that MRC Global Inc. will post ($0.59) earnings per share for the current fiscal year.
Several research firms recently issued reports on MRC. Maxim Group upgraded MRC Global from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday, August 4th. JPMorgan Chase & Co. restated a “buy” rating on shares of MRC Global in a research report on Wednesday, August 3rd. Capital One Financial Corp. upgraded MRC Global from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 3rd. Zacks Investment Research cut MRC Global from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of MRC Global in a report on Sunday, September 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. MRC Global has an average rating of “Hold” and a consensus target price of $16.00.
In other news, EVP Daniel J. Churay sold 5,350 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $14.77, for a total transaction of $79,019.50. Following the transaction, the executive vice president now owns 46,292 shares of the company’s stock, valued at $683,732.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gerard Pieter Krans sold 23,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $15.33, for a total value of $352,590.00. Following the transaction, the director now directly owns 18,802 shares in the company, valued at approximately $288,234.66. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.
MRC Global Company Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company operates through three segments: the United States of America, Canada and International. It has branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia, Australasia, the Middle East and Kazakhstan.
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