Luminus Management LLC purchased a new position in MRC Global Inc (NYSE:MRC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,439,029 shares of the oil and gas company’s stock, valued at approximately $24,348,000. Luminus Management LLC owned about 1.52% of MRC Global at the end of the most recent quarter.
A number of other large investors have also modified their holdings of MRC. Public Employees Retirement Association of Colorado acquired a new stake in MRC Global in the 4th quarter worth about $120,000. MHI Funds LLC purchased a new position in shares of MRC Global in the 4th quarter worth about $171,000. Knightsbridge Asset Management LLC purchased a new position in shares of MRC Global in the 4th quarter worth about $195,000. Koch Industries Inc. purchased a new position in shares of MRC Global in the 4th quarter worth about $217,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of MRC Global in the 3rd quarter worth about $276,000. 98.67% of the stock is currently owned by hedge funds and other institutional investors.
MRC has been the topic of a number of research reports. Alembic Global Advisors restated a “buy” rating on shares of MRC Global in a report on Friday, January 19th. Stifel Nicolaus restated a “buy” rating and issued a $22.00 price objective (up from $18.00) on shares of MRC Global in a report on Tuesday, January 16th. Susquehanna Bancshares set a $21.00 price objective on MRC Global and gave the stock a “buy” rating in a report on Friday, January 12th. Zacks Investment Research downgraded MRC Global from a “hold” rating to a “strong sell” rating in a report on Monday, January 8th. Finally, Stephens set a $24.00 price objective on MRC Global and gave the stock a “buy” rating in a report on Saturday, February 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. MRC Global currently has a consensus rating of “Buy” and an average target price of $20.56.
MRC Global (NYSE:MRC) last announced its earnings results on Thursday, February 15th. The oil and gas company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.06). The company had revenue of $903.00 million for the quarter, compared to analysts’ expectations of $907.63 million. MRC Global had a net margin of 1.37% and a return on equity of 3.54%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.18) earnings per share. research analysts predict that MRC Global Inc will post 0.69 earnings per share for the current year.
In related news, CEO Andrew R. Lane sold 180,621 shares of the firm’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $19.00, for a total transaction of $3,431,799.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew R. Lane sold 293,154 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $19.00, for a total value of $5,569,926.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 476,775 shares of company stock worth $9,054,195. Company insiders own 6.30% of the company’s stock.
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MRC Global Company Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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