Kempen Capital Management N.V. Has $2.05 Million Stake in MRC Global Inc. (MRC)
Kempen Capital Management N.V. lifted its position in MRC Global Inc. (NYSE:MRC) by 133.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,890 shares of the oil and gas company’s stock after acquiring an additional 70,819 shares during the quarter. Kempen Capital Management N.V. owned 0.13% of MRC Global worth $2,047,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in MRC. Ameritas Investment Partners Inc. bought a new stake in shares of MRC Global in the 1st quarter worth about $148,000. Envestnet Asset Management Inc. lifted its holdings in shares of MRC Global by 3.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,569 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 321 shares during the last quarter. Redwood Investments LLC lifted its holdings in shares of MRC Global by 20.2% in the 1st quarter. Redwood Investments LLC now owns 9,237 shares of the oil and gas company’s stock worth $169,000 after acquiring an additional 1,554 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of MRC Global in the 1st quarter worth about $202,000. Finally, Laurion Capital Management LP bought a new stake in shares of MRC Global in the 1st quarter worth about $227,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.
Shares of MRC Global Inc. (NYSE:MRC) traded up 0.378% during midday trading on Tuesday, reaching $17.275. 38,088 shares of the company were exchanged. MRC Global Inc. has a 52 week low of $13.68 and a 52 week high of $22.52. The firm’s market capitalization is $1.63 billion. The firm has a 50-day moving average of $16.15 and a 200 day moving average of $17.50.
MRC Global (NYSE:MRC) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). MRC Global had a negative net margin of 1.40% and a positive return on equity of 0.39%. The company had revenue of $922.00 million during the quarter, compared to analyst estimates of $916.82 million. During the same period in the previous year, the company earned ($0.15) EPS. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. On average, equities research analysts expect that MRC Global Inc. will post $0.14 EPS for the current year.
Several research firms have recently issued reports on MRC. J P Morgan Chase & Co lowered their target price on shares of MRC Global from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, September 12th. Robert W. Baird restated a “hold” rating and issued a $21.00 target price on shares of MRC Global in a report on Sunday, September 10th. Stifel Nicolaus restated a “buy” rating and issued a $19.00 target price on shares of MRC Global in a report on Sunday, September 3rd. Cowen and Company raised their target price on shares of MRC Global from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $17.00 target price (down previously from $20.00) on shares of MRC Global in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. MRC Global currently has an average rating of “Hold” and a consensus target price of $21.30.
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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