Mackenzie Financial Corp purchased a new stake in MRC Global Inc. (NYSE:MRC – Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 10,890 shares of the oil and gas company’s stock, valued at approximately $120,000.
Several other hedge funds also recently added to or reduced their stakes in MRC. Gladius Capital Management LP acquired a new stake in shares of MRC Global in the third quarter valued at about $33,000. Luminus Management LLC acquired a new stake in MRC Global during the 3rd quarter valued at approximately $42,000. Sequoia Financial Advisors LLC bought a new stake in shares of MRC Global in the fourth quarter worth $122,000. Principal Financial Group Inc. bought a new stake in shares of MRC Global in the 3rd quarter worth about $114,000. Finally, SG Americas Securities LLC acquired a new position in MRC Global in the fourth quarter worth $152,000. 94.97% of the stock is owned by hedge funds and other institutional investors.
MRC Global Price Performance
NYSE:MRC opened at $11.59 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.48 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $12.14 and its 200 day moving average price is $11.14. MRC Global Inc. has a 52-week low of $8.15 and a 52-week high of $13.00. The firm has a market cap of $978.08 million, a P/E ratio of 11.14 and a beta of 1.99.
MRC Global (NYSE:MRC – Get Free Report) last issued its earnings results on Tuesday, February 13th. The oil and gas company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. The firm had revenue of $768.00 million during the quarter, compared to analysts’ expectations of $810.52 million. MRC Global had a net margin of 3.34% and a return on equity of 26.92%. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. As a group, sell-side analysts predict that MRC Global Inc. will post 1 earnings per share for the current fiscal year.
Analysts Set New Price Targets
MRC has been the topic of several analyst reports. Stephens reaffirmed an “overweight” rating and issued a $17.00 target price on shares of MRC Global in a research report on Wednesday, February 14th. Susquehanna lifted their price objective on shares of MRC Global from $13.00 to $15.00 and gave the company a “positive” rating in a research note on Monday, April 8th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $15.33.
Get Our Latest Stock Analysis on MRC Global
About MRC Global
(Free Report)
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.
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