MRC Global Inc. (MRC) Stake Held by Pax World Management LLC
Pax World Management LLC continued to hold its position in shares of MRC Global Inc. (NYSE:MRC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,044,200 shares of the oil and gas company’s stock at the end of the second quarter. Pax World Management LLC owned approximately 1.11% of MRC Global worth $17,250,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of MRC. Ameritas Investment Partners Inc. purchased a new position in shares of MRC Global during the first quarter valued at about $148,000. Envestnet Asset Management Inc. raised its position in shares of MRC Global by 3.9% in the first quarter. Envestnet Asset Management Inc. now owns 8,569 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 321 shares in the last quarter. Redwood Investments LLC raised its position in shares of MRC Global by 20.2% in the first quarter. Redwood Investments LLC now owns 9,237 shares of the oil and gas company’s stock valued at $169,000 after buying an additional 1,554 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of MRC Global during the first quarter valued at about $202,000. Finally, Laurion Capital Management LP purchased a new position in shares of MRC Global during the first quarter valued at about $227,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.
Shares of MRC Global Inc. (NYSE:MRC) opened at 15.63 on Monday. MRC Global Inc. has a 1-year low of $13.50 and a 1-year high of $22.52. The company’s market capitalization is $1.48 billion. The stock has a 50 day moving average price of $16.27 and a 200 day moving average price of $18.16.
MRC Global (NYSE:MRC) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $922 million during the quarter, compared to analyst estimates of $916.82 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. Analysts forecast that MRC Global Inc. will post $0.17 earnings per share for the current year.
MRC has been the topic of several research reports. Stifel Nicolaus restated a “buy” rating on shares of MRC Global in a research note on Friday, July 7th. BidaskClub upgraded MRC Global from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Wells Fargo & Company restated a “market perform” rating and set a $17.00 price target (down from $20.00) on shares of MRC Global in a research note on Wednesday, July 12th. Seaport Global Securities lowered 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 research note on Wednesday, June 21st. Finally, Cowen and Company boosted their price target on MRC Global from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $21.50.
MRC Global Company Profile
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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