The Manufacturers Life Insurance Company Purchases 10,822 Shares of MRC Global Inc. (NYSE:MRC)

The Manufacturers Life Insurance Company raised its holdings in shares of MRC Global Inc. (NYSE:MRC) by 33.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 42,883 shares of the oil and gas company’s stock after acquiring an additional 10,822 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.05% of MRC Global worth $546,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in shares of MRC Global by 308.2% in the second quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,951 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of MRC Global by 44.6% during the 2nd quarter. SG Americas Securities LLC now owns 12,570 shares of the oil and gas company’s stock worth $162,000 after acquiring an additional 3,877 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of MRC Global by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 72,238 shares of the oil and gas company’s stock valued at $933,000 after purchasing an additional 1,149 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of MRC Global by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 416,182 shares of the oil and gas company’s stock worth $5,373,000 after purchasing an additional 37,557 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in MRC Global during the second quarter worth $167,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com lowered shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 9th. Susquehanna increased their price target on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus boosted their price target on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th.

MRC Global Stock Performance

MRC opened at $13.22 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 15.20 and a beta of 1.97. MRC Global Inc. has a 12-month low of $9.77 and a 12-month high of $14.91. The business has a 50 day moving average of $13.20 and a 200-day moving average of $12.97.

MRC Global (NYSE:MRC) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The firm had revenue of $797.00 million for the quarter, compared to the consensus estimate of $794.17 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 earnings per share. On average, equities research analysts expect that MRC Global Inc. will post 0.85 earnings per share for the current year.

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.