Aigen Investment Management LP Lowers Stake in MRC Global Inc. (NYSE:MRC)

Aigen Investment Management LP lowered its position in shares of MRC Global Inc. (NYSE:MRC) by 43.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,286 shares of the oil and gas company’s stock after selling 7,936 shares during the quarter. Aigen Investment Management LP’s holdings in MRC Global were worth $131,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Essex Investment Management Co. LLC lifted its holdings in shares of MRC Global by 0.4% in the third quarter. Essex Investment Management Co. LLC now owns 300,195 shares of the oil and gas company’s stock worth $3,824,000 after buying an additional 1,063 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of MRC Global by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 72,238 shares of the oil and gas company’s stock worth $933,000 after buying an additional 1,149 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of MRC Global by 8.5% in the first quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company’s stock worth $190,000 after buying an additional 1,186 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings 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 buying an additional 1,289 shares in the last quarter. Finally, CWM LLC lifted 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 in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analysts Set New Price Targets

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

MRC Global Stock Performance

MRC stock opened at $13.37 on Monday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 15.37 and a beta of 1.97. The firm has a 50-day simple moving average of $12.64 and a two-hundred day simple moving average of $12.86. MRC Global Inc. has a one year low of $9.77 and a one year high of $14.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99.

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

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.