MRC Global Inc. (NYSE:MRC) Position Boosted by HighVista Strategies LLC

HighVista Strategies LLC increased its position in MRC Global Inc. (NYSE:MRC) by 11.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 149,800 shares of the oil and gas company’s stock after purchasing an additional 15,200 shares during the period. HighVista Strategies LLC owned 0.18% of MRC Global worth $1,908,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rhumbline Advisers increased its position in MRC Global by 62.0% in the 2nd quarter. Rhumbline Advisers now owns 247,047 shares of the oil and gas company’s stock valued at $3,189,000 after acquiring an additional 94,566 shares during the period. Quest Partners LLC grew its position in MRC Global by 162.9% in the 2nd quarter. Quest Partners LLC now owns 75,977 shares of the oil and gas company’s stock valued at $981,000 after buying an additional 47,075 shares in the last quarter. Renaissance Technologies LLC increased its stake in MRC Global by 18.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company’s stock valued at $16,636,000 after buying an additional 204,600 shares during the period. Dimensional Fund Advisors LP raised its position in shares of MRC Global by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock worth $47,629,000 after buying an additional 97,445 shares in the last quarter. Finally, Foundry Partners LLC bought a new position in shares of MRC Global in the second quarter valued at approximately $4,418,000. 94.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on MRC. StockNews.com lowered MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 9th. Stifel Nicolaus raised their target price on MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Susquehanna lifted their target price on MRC Global from $16.00 to $17.00 and gave the stock a “positive” rating in a report on Thursday, November 7th.

MRC Global Price Performance

NYSE MRC opened at $14.07 on Tuesday. MRC Global Inc. has a 1 year low of $9.77 and a 1 year high of $14.91. The business’s fifty day moving average is $12.98 and its two-hundred day moving average is $12.94. The stock has a market capitalization of $1.20 billion, a P/E ratio of 16.17 and a beta of 1.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99.

MRC Global (NYSE:MRC) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The company had revenue of $797.00 million for the quarter, compared to analyst estimates of $794.17 million. During the same period in the previous year, the firm earned $0.32 earnings per share. MRC Global’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, research analysts forecast that MRC Global Inc. will post 0.89 earnings per share for the current fiscal year.

MRC Global Profile

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.