1 week Ago By Defense World Staff
Norges Bank bought a new stake in shares of MRC Global Inc. ( NYSE:MRC – Free Report ) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 356,400 shares of the oil and gas company’s stock, valued at approximately $4,555,000.
Norges Bank owned about 0.42% of MRC Global at the end of the most recent reporting period. Other institutional investors have also recently made changes to their positions in the company.
Longboard Asset Management LP purchased a new position in shares of MRC Global in the fourth quarter worth about $134,000. EP Wealth Advisors LLC bought a new stake in MRC Global in the third quarter valued at $167,000. Ieq Capital LLC purchased a new position in MRC Global during the 4th quarter valued at $187,000.
Walleye Capital LLC bought a new position in MRC Global in the 3rd quarter worth $196,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of MRC Global in the 4th quarter worth about $206,000. Institutional investors own 94.
97% of the company’s stock. Analyst Ratings Changes Several brokerages recently issued reports on MRC. StockNews.
com cut shares of MRC Global from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Loop Capital reduced their target price on MRC Global from $18.00 to $17.
00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Stifel Nicolaus lowered their target price on MRC Global from $17.00 to $16.
00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Susquehanna reduced their price target on MRC Global from $17.00 to $15.
00 and set a “positive” rating on the stock in a research note on Monday, March 17th. MRC Global Price Performance Shares of NYSE MRC opened at $10.36 on Thursday.
The company has a 50 day simple moving average of $11.98 and a two-hundred day simple moving average of $12.84.
MRC Global Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $15.
41. The company has a market capitalization of $891.82 million, a price-to-earnings ratio of 11.
91 and a beta of 1.67. 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 – Get Free Report ) last posted its quarterly earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.
08. MRC Global had a return on equity of 19.58% and a net margin of 3.
09%. The company had revenue of $736.80 million for the quarter, compared to the consensus estimate of $726.
90 million. During the same quarter in the prior year, the business posted $0.23 EPS.
The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. Analysts expect that MRC Global Inc.
will post 0.86 EPS for the current fiscal year. MRC Global announced that its Board of Directors has initiated a share repurchase plan on Friday, January 3rd that authorizes the company to buyback $125.
00 million in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 11% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
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. Featured Articles Five stocks we like better than MRC Global Using the MarketBeat Stock Split Calculator Quantum Computing: The $6.
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