Ardevora Asset Management LLP Has $34.59 Million Holdings in MRC Global Inc (MRC)

Ardevora Asset Management LLP grew its stake in MRC Global Inc (NYSE:MRC) by 6.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,842,816 shares of the oil and gas company’s stock after acquiring an additional 103,604 shares during the quarter. Ardevora Asset Management LLP’s holdings in MRC Global were worth $34,590,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Global X Management Co LLC boosted its holdings in MRC Global by 19.0% in the second quarter. Global X Management Co LLC now owns 18,475 shares of the oil and gas company’s stock worth $400,000 after acquiring an additional 2,951 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of MRC Global by 10.3% in the first quarter. Principal Financial Group Inc. now owns 45,544 shares of the oil and gas company’s stock worth $749,000 after purchasing an additional 4,235 shares during the last quarter. First Midwest Bank Trust Division raised its stake in shares of MRC Global by 13.2% in the second quarter. First Midwest Bank Trust Division now owns 37,225 shares of the oil and gas company’s stock worth $807,000 after purchasing an additional 4,338 shares during the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of MRC Global by 26.9% in the second quarter. Xact Kapitalforvaltning AB now owns 21,211 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in shares of MRC Global by 0.7% in the second quarter. Artisan Partners Limited Partnership now owns 1,002,522 shares of the oil and gas company’s stock worth $21,725,000 after purchasing an additional 6,671 shares during the last quarter. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on the company. TheStreet cut MRC Global from a “b-” rating to a “c+” rating in a research note on Friday, October 19th. Raymond James decreased their price target on MRC Global from $25.00 to $21.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Cowen restated a “buy” rating and issued a $25.00 price target on shares of MRC Global in a research note on Friday, October 12th. Zacks Investment Research cut MRC Global from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Finally, JPMorgan Chase & Co. boosted their price target on MRC Global from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, September 17th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $23.75.

MRC stock opened at $15.33 on Wednesday. MRC Global Inc has a 1-year low of $14.01 and a 1-year high of $22.98. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.12. The firm has a market capitalization of $1.38 billion, a PE ratio of 511.00, a price-to-earnings-growth ratio of 1.53 and a beta of 1.61.

MRC Global (NYSE:MRC) last posted its quarterly earnings results on Wednesday, August 1st. The oil and gas company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.04). MRC Global had a return on equity of 7.00% and a net margin of 1.97%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $0.02 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, research analysts anticipate that MRC Global Inc will post 0.67 EPS for the current fiscal year.

MRC Global Company Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.

See Also: Preferred Stock

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Institutional Ownership by Quarter for MRC Global (NYSE:MRC)

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