BNP Paribas Financial Markets Cuts Stock Position in MRC Global Inc. (NYSE:MRC)

BNP Paribas Financial Markets trimmed its position in MRC Global Inc. (NYSE:MRC) by 33.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 54,949 shares of the oil and gas company’s stock after selling 27,602 shares during the quarter. BNP Paribas Financial Markets’ holdings in MRC Global were worth $700,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC raised its holdings in shares of MRC Global by 308.2% in the second quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock worth $33,000 after buying an additional 1,951 shares during the last quarter. SG Americas Securities LLC raised its stake in MRC Global by 44.6% in the 2nd quarter. SG Americas Securities LLC now owns 12,570 shares of the oil and gas company’s stock worth $162,000 after acquiring an additional 3,877 shares during the last quarter. SummerHaven Investment Management LLC lifted its position 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 worth $933,000 after acquiring an additional 1,149 shares during the period. Bank of New York Mellon Corp grew 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of MRC Global in the second quarter valued at about $167,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

MRC Global Price Performance

MRC Global stock opened at $13.41 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 15.41 and a beta of 1.97. The company’s 50 day simple moving average is $13.19 and its 200-day simple moving average is $12.97. MRC Global Inc. has a 1 year low of $9.77 and a 1 year high of $14.91.

MRC Global (NYSE:MRC) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm had revenue of $797.00 million for the quarter, compared to the consensus estimate of $794.17 million. During the same period in the prior year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, equities research analysts expect that MRC Global Inc. will post 0.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on MRC shares. StockNews.com cut shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 9th. Stifel Nicolaus upped their price target on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Susquehanna lifted their price objective on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research note on Thursday, November 7th.

MRC Global Company 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.