First Midwest Bank Trust Division acquired a new stake in shares of MRC Global Inc. (NYSE:MRC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,507 shares of the oil and gas company’s stock, valued at approximately $454,000.
A number of other institutional investors have also added to or reduced their stakes in MRC. Malaga Cove Capital LLC boosted its position in MRC Global by 1.3% in the second quarter. Malaga Cove Capital LLC now owns 102,397 shares of the oil and gas company’s stock valued at $1,701,000 after buying an additional 1,335 shares during the period. Aperio Group LLC boosted its position in MRC Global by 3.0% in the second quarter. Aperio Group LLC now owns 24,078 shares of the oil and gas company’s stock valued at $398,000 after buying an additional 698 shares during the last quarter. Alpha Windward LLC purchased a new position in MRC Global during the second quarter valued at $368,000. Ardevora Asset Management LLP boosted its position in MRC Global by 38.1% in the second quarter. Ardevora Asset Management LLP now owns 2,015,100 shares of the oil and gas company’s stock valued at $33,289,000 after buying an additional 556,400 shares during the last quarter. Finally, Clearbridge Investments LLC purchased a new position in MRC Global during the first quarter valued at $28,656,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.
MRC Global Inc. (MRC) opened at 15.63 on Friday. MRC Global Inc. has a 12 month low of $13.50 and a 12 month high of $22.52. The stock’s 50 day moving average price is $16.27 and its 200-day moving average price is $18.16. The stock’s market cap is $1.48 billion.
MRC Global (NYSE:MRC) last released its earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $922 million for the quarter, compared to analysts’ expectations of $916.82 million. MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) EPS. Equities analysts expect that MRC Global Inc. will post $0.17 EPS for the current year.
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Several equities analysts have recently weighed in on MRC shares. Seaport Global Securities cut MRC Global from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $17.00 in a report on Wednesday, June 21st. BidaskClub raised MRC Global from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. KeyCorp reissued a “sector weight” rating on shares of MRC Global in a report on Friday, May 26th. Stifel Nicolaus restated a “buy” rating on shares of MRC Global in a research note on Friday, July 7th. Finally, ValuEngine lowered MRC Global from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $21.50.
About MRC Global
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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