The Manufacturers Life Insurance Company Buys 1,289 Shares of MRC Global Inc. (NYSE:MRC)

The Manufacturers Life Insurance Company raised its stake in shares of MRC Global Inc. (NYSE:MRC) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,061 shares of the oil and gas company’s stock after purchasing an additional 1,289 shares during the period. The Manufacturers Life Insurance Company’s holdings in MRC Global were worth $414,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MRC. Millennium Management LLC grew its holdings in MRC Global by 2.8% during the 2nd quarter. Millennium Management LLC now owns 1,008,804 shares of the oil and gas company’s stock worth $13,024,000 after acquiring an additional 27,709 shares during the period. Deerfield Management Company L.P. Series C bought a new position in MRC Global in the 2nd quarter valued at about $145,000. AQR Capital Management LLC lifted its position in MRC Global by 2.1% in the 2nd quarter. AQR Capital Management LLC now owns 469,848 shares of the oil and gas company’s stock valued at $6,066,000 after acquiring an additional 9,824 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in MRC Global by 57.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 321,886 shares of the oil and gas company’s stock valued at $4,156,000 after acquiring an additional 117,839 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in MRC Global in the 2nd quarter valued at about $1,862,000. 94.97% of the stock is owned by institutional investors.

MRC Global Stock Down 2.6 %

MRC opened at $12.40 on Thursday. The company has a fifty day moving average price of $12.50 and a 200-day moving average price of $12.72. The firm has a market capitalization of $1.05 billion, a P/E ratio of 14.41 and a beta of 1.97. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.10. MRC Global Inc. has a one year low of $9.47 and a one year high of $14.91.

MRC Global (NYSE:MRC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.07. The company had revenue of $832.00 million during the quarter, compared to analyst estimates of $831.32 million. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. Equities research analysts expect that MRC Global Inc. will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com cut shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 10th. Susquehanna reaffirmed a “positive” rating and issued a $16.00 price target on shares of MRC Global in a report on Wednesday, June 26th. Finally, Stifel Nicolaus lifted their price target on shares of MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday.

MRC Global 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.