MRC Global Inc. (NYSE:MRC) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in MRC Global Inc. (NYSE:MRC) by 29.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,020 shares of the oil and gas company’s stock after selling 42,402 shares during the quarter. Federated Hermes Inc. owned about 0.12% of MRC Global worth $1,123,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Gladius Capital Management LP purchased a new position in shares of MRC Global during the 3rd quarter worth approximately $33,000. Luminus Management LLC purchased a new position in shares of MRC Global during the third quarter worth $42,000. Mackenzie Financial Corp acquired a new stake in shares of MRC Global in the fourth quarter valued at $120,000. Sequoia Financial Advisors LLC purchased a new stake in shares of MRC Global in the 4th quarter valued at $122,000. Finally, Principal Financial Group Inc. acquired a new position in MRC Global during the 3rd quarter worth about $114,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

MRC Global Stock Performance

Shares of MRC opened at $11.23 on Wednesday. MRC Global Inc. has a 1 year low of $8.15 and a 1 year high of $13.00. The stock has a market capitalization of $947.70 million, a PE ratio of 10.80 and a beta of 1.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.76 and a current ratio of 1.48. The stock has a 50-day simple moving average of $12.14 and a 200-day simple moving average of $11.14.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Tuesday, February 13th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. MRC Global had a net margin of 3.34% and a return on equity of 26.92%. The company had revenue of $768.00 million during the quarter, compared to the consensus estimate of $810.52 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was down 11.6% on a year-over-year basis. On average, analysts predict that MRC Global Inc. will post 1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Stephens reissued an “overweight” rating and set a $17.00 price target on shares of MRC Global in a research report on Wednesday, February 14th. Susquehanna raised their price target on shares of MRC Global from $13.00 to $15.00 and gave the company a “positive” rating in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.33.

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.