18,700 Shares in MRC Global Inc (MRC) Acquired by Paloma Partners Management Co
Paloma Partners Management Co bought a new stake in MRC Global Inc (NYSE:MRC) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 18,700 shares of the oil and gas company’s stock, valued at approximately $405,000.
A number of other large investors have also recently modified their holdings of MRC. Brown Advisory Inc. acquired a new stake in MRC Global in the 2nd quarter valued at about $25,097,000. Point72 Asset Management L.P. acquired a new stake in MRC Global during the second quarter worth approximately $22,417,000. Luminus Management LLC lifted its position in MRC Global by 22.8% during the second quarter. Luminus Management LLC now owns 3,492,137 shares of the oil and gas company’s stock worth $75,674,000 after acquiring an additional 647,445 shares during the last quarter. BlackRock Inc. lifted its position in MRC Global by 6.8% during the second quarter. BlackRock Inc. now owns 6,342,696 shares of the oil and gas company’s stock worth $137,445,000 after acquiring an additional 402,466 shares during the last quarter. Finally, Chicago Equity Partners LLC acquired a new stake in MRC Global during the second quarter worth approximately $4,432,000. Institutional investors and hedge funds own 96.78% of the company’s stock.
Several equities research analysts have issued reports on MRC shares. Zacks Investment Research downgraded shares of MRC Global from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 3rd. ValuEngine downgraded shares of MRC Global from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. TheStreet upgraded shares of MRC Global from a “c+” rating to a “b-” rating in a research report on Thursday, July 26th. JPMorgan Chase & Co. raised their price objective on shares of MRC Global from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, September 17th. Finally, Northcoast Research started coverage on shares of MRC Global in a research report on Tuesday, July 31st. They set a “buy” rating and a $26.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $23.00.
MRC Global (NYSE:MRC) last announced its earnings results on Wednesday, August 1st. The oil and gas company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.04). MRC Global had a return on equity of 7.00% and a net margin of 1.97%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business posted $0.02 earnings per share. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. equities analysts predict that MRC Global Inc will post 0.7 EPS for the current year.
MRC Global Profile
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. 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 products, and top work components, as well as measurement, steam, and instrumentation products.
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