Koch Industries Inc. Takes Position in MRC Global Inc. (MRC)
Koch Industries Inc. acquired a new stake in MRC Global Inc. (NYSE:MRC) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 252,796 shares of the oil and gas company’s stock, valued at approximately $238,000. Koch Industries Inc. owned 0.27% of MRC Global at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in MRC Global by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 8,569 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 321 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in MRC Global during the 1st quarter worth approximately $202,000. Redwood Investments LLC grew its position in MRC Global by 24.0% during the 2nd quarter. Redwood Investments LLC now owns 11,450 shares of the oil and gas company’s stock worth $189,000 after acquiring an additional 2,213 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in MRC Global by 328.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,568 shares of the oil and gas company’s stock worth $274,000 after acquiring an additional 12,697 shares during the last quarter. Finally, Suntrust Banks Inc. grew its position in MRC Global by 1.2% during the 2nd quarter. Suntrust Banks Inc. now owns 18,307 shares of the oil and gas company’s stock worth $302,000 after acquiring an additional 215 shares during the last quarter. Institutional investors own 96.75% of the company’s stock.
MRC Global Inc. (NYSE:MRC) opened at 17.74 on Friday. The firm’s 50-day moving average price is $17.41 and its 200 day moving average price is $17.41. The firm’s market cap is $1.68 billion. MRC Global Inc. has a 12-month low of $13.68 and a 12-month high of $22.52.
MRC Global (NYSE:MRC) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $922.00 million for the quarter, compared to the consensus estimate of $916.82 million. MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) EPS. Analysts forecast that MRC Global Inc. will post $0.12 earnings per share for the current fiscal year.
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A number of research firms recently commented on MRC. Zacks Investment Research lowered MRC Global from a “hold” rating to a “sell” rating in a research report on Tuesday. Stifel Nicolaus restated a “buy” rating and set a $20.00 price target on shares of MRC Global in a research report on Tuesday. Robert W. Baird restated a “hold” rating and set a $21.00 price target on shares of MRC Global in a research report on Monday, October 9th. Cowen and Company set a $24.00 price target on MRC Global and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, J P Morgan Chase & Co decreased their price target on MRC Global from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $21.22.
MRC Global 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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