Denali Advisors LLC Takes $629,000 Position in MRC Global Inc. $MRC

Denali Advisors LLC bought a new stake in MRC Global Inc. (NYSE:MRC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 45,900 shares of the oil and gas company’s stock, valued at approximately $629,000.

A number of other institutional investors have also modified their holdings of the stock. Lord Abbett & CO. LLC increased its holdings in shares of MRC Global by 336.0% in the first quarter. Lord Abbett & CO. LLC now owns 3,498,499 shares of the oil and gas company’s stock valued at $40,163,000 after purchasing an additional 2,696,044 shares during the period. Wellington Management Group LLP grew its holdings in MRC Global by 5.4% during the first quarter. Wellington Management Group LLP now owns 3,105,144 shares of the oil and gas company’s stock worth $35,647,000 after acquiring an additional 158,338 shares during the period. American Century Companies Inc. grew its holdings in MRC Global by 14.2% during the first quarter. American Century Companies Inc. now owns 2,605,756 shares of the oil and gas company’s stock worth $29,914,000 after acquiring an additional 324,110 shares during the period. Cramer Rosenthal Mcglynn LLC grew its holdings in MRC Global by 64.0% during the first quarter. Cramer Rosenthal Mcglynn LLC now owns 1,303,210 shares of the oil and gas company’s stock worth $14,961,000 after acquiring an additional 508,723 shares during the period. Finally, Nuveen LLC acquired a new position in MRC Global during the first quarter worth $14,081,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

MRC Global Stock Up 0.6%

MRC opened at $13.97 on Thursday. The business’s fifty day moving average is $14.39 and its two-hundred day moving average is $13.27. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.00 and a current ratio of 1.84. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -58.22 and a beta of 1.62. MRC Global Inc. has a one year low of $9.23 and a one year high of $15.59.

MRC Global (NYSE:MRC) last posted its earnings results on Thursday, May 26th. The oil and gas company reported ($0.07) EPS for the quarter. The firm had revenue of $609.00 million for the quarter. MRC Global had a positive return on equity of 11.81% and a negative net margin of 0.10%. Analysts anticipate that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on MRC. Zacks Research raised MRC Global to a “hold” rating in a report on Friday, August 8th. Susquehanna lowered MRC Global from a “positive” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a report on Thursday, October 2nd. Stifel Nicolaus dropped their price objective on MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, July 21st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of MRC Global in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.00.

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.