State Street Corp Purchases 23,125 Shares of MRC Global Inc. (NYSE:MRC)

State Street Corp lifted its position in shares of MRC Global Inc. (NYSE:MRC) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,923,272 shares of the oil and gas company’s stock after purchasing an additional 23,125 shares during the period. State Street Corp’s holdings in MRC Global were worth $24,502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MRC. Essex Investment Management Co. LLC grew its holdings in MRC Global by 0.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 300,195 shares of the oil and gas company’s stock worth $3,824,000 after acquiring an additional 1,063 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of MRC Global by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 32,061 shares of the oil and gas company’s stock worth $414,000 after purchasing an additional 1,289 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MRC Global by 9.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,532 shares of the oil and gas company’s stock valued at $317,000 after purchasing an additional 2,176 shares during the period. Allspring Global Investments Holdings LLC raised its position in MRC Global by 20.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,575 shares of the oil and gas company’s stock worth $198,000 after purchasing an additional 2,639 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in MRC Global during the 2nd quarter worth about $45,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

MRC Global Stock Performance

MRC opened at $12.55 on Monday. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 14.43 and a beta of 1.97. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. MRC Global Inc. has a 1-year low of $9.77 and a 1-year high of $14.91. The company’s fifty day moving average price is $13.21 and its two-hundred day moving average price is $12.96.

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

Analysts Set New Price Targets

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

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.