Pekin Hardy Strauss Inc. Cuts Stock Position in MRC Global Inc. (NYSE:MRC)

Pekin Hardy Strauss Inc. lessened its holdings in shares of MRC Global Inc. (NYSE:MRC) by 20.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 747,447 shares of the oil and gas company’s stock after selling 190,539 shares during the quarter. MRC Global comprises about 1.2% of Pekin Hardy Strauss Inc.’s holdings, making the stock its 16th biggest holding. Pekin Hardy Strauss Inc. owned about 0.89% of MRC Global worth $8,229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new position in MRC Global during the 3rd quarter worth approximately $33,000. Luminus Management LLC purchased a new stake in MRC Global during the 3rd quarter worth about $42,000. Mackenzie Financial Corp acquired a new position in shares of MRC Global during the 4th quarter worth about $120,000. Sequoia Financial Advisors LLC purchased a new position in shares of MRC Global in the 4th quarter valued at about $122,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of MRC Global during the 3rd quarter worth about $114,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Susquehanna upped their price target on MRC Global from $13.00 to $15.00 and gave the company a “positive” rating in a report on Monday, April 8th. Stephens restated an “overweight” rating and issued a $17.00 target price on shares of MRC Global in a report on Wednesday, February 14th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $15.33.

MRC Global Stock Performance

MRC traded down $0.36 during trading on Tuesday, hitting $11.23. 403,143 shares of the stock were exchanged, compared to its average volume of 559,850. The company has a quick ratio of 0.76, a current ratio of 1.48 and a debt-to-equity ratio of 0.02. MRC Global Inc. has a 1-year low of $8.15 and a 1-year high of $13.00. The stock has a fifty day moving average price of $12.14 and a two-hundred day moving average price of $11.14. The firm has a market capitalization of $947.70 million, a P/E ratio of 11.14 and a beta of 1.99.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Tuesday, February 13th. The oil and gas company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. MRC Global had a net margin of 3.34% and a return on equity of 26.92%. The firm had revenue of $768.00 million during the quarter, compared to analysts’ expectations of $810.52 million. During the same quarter in the prior year, the business earned $0.32 EPS. MRC Global’s quarterly revenue was down 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that MRC Global Inc. will post 1 earnings per share for the current year.

MRC Global Profile

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.