Jacobs Levy Equity Management Inc. Reduces Holdings in MRC Global Inc. (NYSE:MRC)

Jacobs Levy Equity Management Inc. trimmed its holdings in MRC Global Inc. (NYSE:MRC) by 34.5% in the 3rd quarter, Holdings Channel reports. The fund owned 21,464 shares of the oil and gas company’s stock after selling 11,320 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in MRC Global were worth $273,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MRC. CWM LLC increased its stake in shares of MRC Global by 308.2% in the 2nd quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 1,951 shares in the last quarter. SG Americas Securities LLC increased its stake in MRC Global by 44.6% during the 2nd quarter. SG Americas Securities LLC now owns 12,570 shares of the oil and gas company’s stock valued at $162,000 after purchasing an additional 3,877 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in MRC Global by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 72,238 shares of the oil and gas company’s stock valued at $933,000 after purchasing an additional 1,149 shares in the last quarter. Bank of New York Mellon Corp increased its stake in MRC Global by 9.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 416,182 shares of the oil and gas company’s stock valued at $5,373,000 after purchasing an additional 37,557 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in MRC Global during the 2nd quarter valued at about $167,000. 94.97% of the stock is currently owned by institutional investors.

MRC Global Stock Performance

MRC opened at $13.53 on Wednesday. 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 company has a market cap of $1.15 billion, a price-to-earnings ratio of 15.55 and a beta of 1.97. The company’s 50 day moving average is $13.16 and its 200 day moving average is $12.96. 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 quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The company had revenue of $797.00 million for the quarter, compared to the consensus estimate of $794.17 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm’s revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. On average, equities research analysts predict that MRC Global Inc. will post 0.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MRC. Stifel Nicolaus raised their price objective on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Susquehanna raised their price target on shares of MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a report on Thursday, November 7th. Finally, StockNews.com downgraded shares of MRC Global from a “strong-buy” rating to a “buy” rating in a report 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.