Capital Fund Management S.A. cut its stake in MRC Global Inc. (NYSE:MRC) by 23.8% during the second quarter, Holdings Channel reports. The institutional investor owned 213,790 shares of the company’s stock after selling 66,686 shares during the period. Capital Fund Management S.A.’s holdings in MRC Global were worth $3,038,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Springbok Capital Management LLC bought a new position in MRC Global during the first quarter valued at approximately $108,000. Kempen Capital Management N.V. increased its position in MRC Global by 27.3% in the first quarter. Kempen Capital Management N.V. now owns 8,485 shares of the company’s stock valued at $111,000 after buying an additional 1,821 shares during the period. Bessemer Group Inc. bought a new position in MRC Global during the first quarter valued at approximately $140,000. Seven Eight Capital LLC bought a new position in MRC Global during the first quarter valued at approximately $330,000. Finally, Bayesian Capital Management LP increased its position in MRC Global by 59.3% in the first quarter. Bayesian Capital Management LP now owns 26,600 shares of the company’s stock valued at $350,000 after buying an additional 9,900 shares during the period. 99.30% of the stock is owned by institutional investors.
MRC Global Inc. (NYSE:MRC) traded up 0.18% during mid-day trading on Tuesday, reaching $16.46. 1,010,867 shares of the company were exchanged. The company’s market capitalization is $1.59 billion. MRC Global Inc. has a 1-year low of $8.50 and a 1-year high of $16.68. The company has a 50 day moving average of $14.88 and a 200-day moving average of $14.09.
MRC Global (NYSE:MRC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.07. The firm earned $746 million during the quarter, compared to analyst estimates of $747.81 million. MRC Global had a positive return on equity of 1.60% and a negative net margin of 11.27%. The company’s revenue was down 37.7% on a year-over-year basis. During the same quarter last year, the company posted $0.22 EPS. On average, equities research analysts forecast that MRC Global Inc. will post ($0.59) EPS for the current year.
MRC has been the subject of several research reports. Zacks Investment Research downgraded shares of MRC Global from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Capital One Financial Corp. raised shares of MRC Global from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 3rd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of MRC Global in a report on Wednesday, August 3rd. Maxim Group raised shares of MRC Global from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Thursday, August 4th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of MRC Global in a report on Sunday, September 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $16.00.
In other MRC Global news, EVP Daniel J. Churay sold 5,350 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $14.77, for a total value of $79,019.50. Following the completion of the transaction, the executive vice president now owns 46,292 shares in the company, valued at $683,732.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gerard Pieter Krans sold 8,600 shares of the company’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $15.01, for a total transaction of $129,086.00. Following the completion of the transaction, the director now owns 18,802 shares of the company’s stock, valued at approximately $282,218.02. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.
MRC Global Company Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company operates through three segments: the United States of America, Canada and International. It has branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia, Australasia, the Middle East and Kazakhstan.
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