State Street Corp Has $35.62 Million Position in MRC Global Inc. (NYSE:MRC)

State Street Corp cut its stake in shares of MRC Global Inc. (NYSE:MRC) by 0.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,943,293 shares of the oil and gas company’s stock after selling 11,160 shares during the period. State Street Corp owned about 2.06% of MRC Global worth $35,620,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new position in MRC Global during the first quarter valued at about $148,000. Envestnet Asset Management Inc. boosted its position in 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 boosted its position in 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 worth $169,000 after buying an additional 1,554 shares in the last quarter. Laurion Capital Management LP bought a new position in MRC Global during the first quarter worth $227,000. Finally, Quantbot Technologies LP boosted its position in MRC Global by 24.8% in the first quarter. Quantbot Technologies LP now owns 14,698 shares of the oil and gas company’s stock worth $269,000 after buying an additional 2,919 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Shares of MRC Global Inc. (MRC) opened at 15.63 on Friday. MRC Global Inc. has a 12-month low of $13.50 and a 12-month high of $22.52. The stock’s 50 day moving average is $16.27 and its 200-day moving average is $18.16. The stock’s market cap is $1.48 billion.

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 (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.01. The firm had revenue of $922 million for the quarter, compared to analyst estimates of $916.82 million. MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) EPS. Equities analysts anticipate that MRC Global Inc. will post $0.17 EPS for the current fiscal year.

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A number of equities analysts have weighed in on the stock. Cowen and Company upped their price objective on shares of MRC Global from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Wells Fargo & Company restated a “market perform” rating and set a $17.00 price objective (down from $20.00) on shares of MRC Global in a research report on Wednesday, July 12th. Stifel Nicolaus restated a “buy” rating on shares of MRC Global in a research report on Friday, July 7th. ValuEngine cut shares of MRC Global from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Seaport Global Securities cut shares of MRC Global from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $17.00 in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $21.50.

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.

Institutional Ownership by Quarter for MRC Global (NYSE:MRC)

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