First Mercantile Trust Co. decreased its stake in MRC Global Inc. (NYSE:MRC) by 6.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,902 shares of the company’s stock after selling 831 shares during the period. First Mercantile Trust Co.’s holdings in MRC Global were worth $169,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Springbok Capital Management LLC acquired a new stake in shares of MRC Global during the first quarter worth about $108,000. Kempen Capital Management N.V. boosted its stake in shares of MRC Global by 27.3% in the first quarter. Kempen Capital Management N.V. now owns 8,485 shares of the company’s stock worth $111,000 after buying an additional 1,821 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new stake in shares of MRC Global during the second quarter worth about $118,000. Bessemer Group Inc. acquired a new stake in shares of MRC Global during the first quarter worth about $140,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of MRC Global during the second quarter worth about $167,000. Hedge funds and other institutional investors own 99.30% of the company’s stock.
MRC Global Inc. (NYSE:MRC) opened at 16.46 on Wednesday. The firm’s market cap is $1.59 billion. The stock’s 50 day moving average is $14.88 and its 200-day moving average is $14.09. MRC Global Inc. has a 12 month low of $8.50 and a 12 month high of $16.68.
MRC Global (NYSE:MRC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.07. The company had revenue of $746 million for the quarter, compared to analyst estimates of $747.81 million. MRC Global had a positive return on equity of 1.60% and a negative net margin of 11.27%. The company’s revenue was down 37.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 earnings per share. On average, analysts anticipate that MRC Global Inc. will post ($0.59) earnings per share for the current fiscal year.
A number of brokerages recently issued reports on MRC. Maxim Group upgraded shares of MRC Global from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Thursday, August 4th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of MRC Global in a report on Wednesday, August 3rd. Capital One Financial Corp. raised shares of MRC Global from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, August 3rd. Zacks Investment Research lowered shares of MRC Global from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of MRC Global in a research report on Sunday, September 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $16.00.
In other news, EVP Daniel J. Churay sold 5,350 shares of MRC Global stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $14.77, for a total value of $79,019.50. Following the completion of the transaction, the executive vice president now owns 46,292 shares of the company’s stock, valued at approximately $683,732.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gerard Pieter Krans sold 23,000 shares of MRC Global stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $15.33, for a total transaction of $352,590.00. Following the completion of the transaction, the director now directly owns 18,802 shares of the company’s stock, valued at approximately $288,234.66. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.
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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