Affinity Investment Advisors LLC Cuts Stake in MRC Global Inc. (NYSE:MRC)

Affinity Investment Advisors LLC lessened its holdings in shares of MRC Global Inc. (NYSE:MRC) by 45.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 29,755 shares of the oil and gas company’s stock after selling 24,860 shares during the quarter. Affinity Investment Advisors LLC’s holdings in MRC Global were worth $328,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SummerHaven Investment Management LLC increased its position in MRC Global by 1.5% during the 4th quarter. SummerHaven Investment Management LLC now owns 70,162 shares of the oil and gas company’s stock valued at $772,000 after buying an additional 1,025 shares in the last quarter. Swiss National Bank increased its holdings in shares of MRC Global by 0.9% during the third quarter. Swiss National Bank now owns 185,149 shares of the oil and gas company’s stock valued at $1,898,000 after acquiring an additional 1,700 shares in the last quarter. Gladius Capital Management LP purchased a new position in shares of MRC Global in the 3rd quarter valued at approximately $33,000. Aigen Investment Management LP boosted its stake in MRC Global by 8.4% in the 4th quarter. Aigen Investment Management LP now owns 46,876 shares of the oil and gas company’s stock worth $516,000 after purchasing an additional 3,618 shares in the last quarter. Finally, Luminus Management LLC acquired a new stake in MRC Global in the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

Insider Buying and Selling

In other MRC Global news, insider Grant R. Bates sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $13.57, for a total value of $474,950.00. Following the completion of the transaction, the insider now directly owns 110,191 shares of the company’s stock, valued at $1,495,291.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Grant R. Bates sold 4,698 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $13.76, for a total transaction of $64,644.48. Following the sale, the insider now directly owns 145,191 shares in the company, valued at approximately $1,997,828.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Grant R. Bates sold 35,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $13.57, for a total value of $474,950.00. Following the completion of the transaction, the insider now directly owns 110,191 shares of the company’s stock, valued at approximately $1,495,291.87. The disclosure for this sale can be found here. Insiders have sold a total of 90,698 shares of company stock valued at $1,242,374 over the last ninety days. Company insiders own 20.90% of the company’s stock.

MRC Global Stock Performance

Shares of MRC stock traded down $0.29 during trading hours on Wednesday, hitting $13.37. The company’s stock had a trading volume of 162,460 shares, compared to its average volume of 580,726. The stock has a market cap of $1.14 billion, a PE ratio of 15.88 and a beta of 2.01. MRC Global Inc. has a 12-month low of $8.15 and a 12-month high of $14.02. The company has a 50 day moving average of $12.39 and a 200 day moving average of $11.40. The company has a current ratio of 1.48, a quick ratio of 0.81 and a debt-to-equity ratio of 0.01.

MRC Global (NYSE:MRC) last posted its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. The company had revenue of $806.00 million for the quarter, compared to analyst estimates of $760.76 million. MRC Global had a net margin of 2.97% and a return on equity of 23.60%. The firm’s revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 earnings per share. On average, sell-side analysts forecast that MRC Global Inc. will post 0.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on MRC. Susquehanna raised their price target on shares of MRC Global from $15.00 to $16.00 and gave the stock a “positive” rating in a report on Friday, May 10th. Stephens restated an “overweight” rating and issued a $17.00 target price on shares of MRC Global in a research note on Wednesday, February 14th. Finally, StockNews.com raised MRC Global from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, MRC Global presently has an average rating of “Buy” and an average price target of $15.67.

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.