PDT Partners LLC Reduces Position in MRC Global Inc. (NYSE:MRC)

PDT Partners LLC reduced its position in MRC Global Inc. (NYSE:MRC) by 12.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,201 shares of the oil and gas company’s stock after selling 11,535 shares during the quarter. PDT Partners LLC owned 0.10% of MRC Global worth $1,060,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MRC. Walleye Capital LLC bought a new position in shares of MRC Global during the third quarter valued at approximately $196,000. Martingale Asset Management L P boosted its holdings in MRC Global by 14.2% during the 3rd quarter. Martingale Asset Management L P now owns 153,617 shares of the oil and gas company’s stock valued at $1,957,000 after acquiring an additional 19,044 shares during the period. FMR LLC grew its position in MRC Global by 25.3% in the 3rd quarter. FMR LLC now owns 100,976 shares of the oil and gas company’s stock valued at $1,286,000 after acquiring an additional 20,406 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in MRC Global by 33.8% in the third quarter. The Manufacturers Life Insurance Company now owns 42,883 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 10,822 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of MRC Global by 171.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 86,434 shares of the oil and gas company’s stock worth $1,101,000 after purchasing an additional 54,560 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

MRC Global Stock Performance

Shares of MRC Global stock opened at $13.97 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average price is $12.98 and its 200-day moving average price is $12.95. The firm has a market cap of $1.19 billion, a P/E ratio of 16.06 and a beta of 1.97. MRC Global Inc. has a 12 month low of $9.77 and a 12 month high of $14.91.

MRC Global (NYSE:MRC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The business had revenue of $797.00 million for the quarter, compared to the consensus estimate of $794.17 million. During the same quarter last year, the firm posted $0.32 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, equities research analysts expect that MRC Global Inc. will post 0.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MRC has been the topic of a number of research analyst reports. Susquehanna upped their price target on shares of MRC Global from $16.00 to $17.00 and gave the stock a “positive” rating in a report on Thursday, November 7th. Stifel Nicolaus upped their target price on shares of MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, StockNews.com downgraded shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 9th.

About MRC Global

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.