Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MRC Global Inc. (NYSE:MRC – Get Rating) by 8.6% during the 1st quarter, HoldingsChannel reports. The firm owned 1,938,844 shares of the oil and gas company’s stock after acquiring an additional 153,469 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in MRC Global were worth $23,092,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Walleye Capital LLC boosted its position in shares of MRC Global by 476.6% during the first quarter. Walleye Capital LLC now owns 147,036 shares of the oil and gas company’s stock valued at $1,751,000 after purchasing an additional 121,536 shares in the last quarter. Sawtooth Solutions LLC bought a new stake in shares of MRC Global during the first quarter valued at approximately $184,000. BNP Paribas Arbitrage SA boosted its position in shares of MRC Global by 67.8% during the first quarter. BNP Paribas Arbitrage SA now owns 423,307 shares of the oil and gas company’s stock valued at $5,042,000 after purchasing an additional 171,056 shares in the last quarter. Range Financial Group LLC bought a new stake in shares of MRC Global during the first quarter valued at approximately $616,000. Finally, Walleye Trading LLC bought a new stake in MRC Global in the first quarter worth $172,000. 96.85% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have commented on MRC shares. Stifel Nicolaus boosted their target price on MRC Global from $14.00 to $16.00 in a report on Friday, July 8th. Benchmark started coverage on MRC Global in a report on Thursday, July 7th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, StockNews.com downgraded MRC Global from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.
MRC Global Trading Down 2.4 %
MRC Global (NYSE:MRC – Get Rating) last announced its quarterly earnings results on Monday, August 8th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $848.00 million for the quarter, compared to the consensus estimate of $823.48 million. MRC Global had a return on equity of 21.49% and a net margin of 0.51%. The company’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. Sell-side analysts expect that MRC Global Inc. will post 0.82 earnings per share for the current year.
In related news, SVP Malcolm O’neal sold 3,125 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $9.61, for a total transaction of $30,031.25. Following the completion of the sale, the senior vice president now owns 41,605 shares in the company, valued at $399,824.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 22.10% of the company’s stock.
About MRC Global
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy, industrial, and gas utility end-markets in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components, as well as valve modification services; and measurement, steam, and instrumentation products.
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