Geode Capital Management LLC Has $24.93 Million Stock Position in MRC Global Inc. (NYSE:MRC)

Geode Capital Management LLC lifted its position in shares of MRC Global Inc. (NYSE:MRC) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,956,725 shares of the oil and gas company’s stock after purchasing an additional 32,760 shares during the period. Geode Capital Management LLC owned 2.30% of MRC Global worth $24,934,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of MRC Global by 7,541.8% in the second quarter. Victory Capital Management Inc. now owns 1,342,896 shares of the oil and gas company’s stock valued at $17,337,000 after purchasing an additional 1,325,323 shares during the last quarter. American Century Companies Inc. grew its stake in shares of MRC Global by 167.3% in the second quarter. American Century Companies Inc. now owns 1,205,172 shares of the oil and gas company’s stock valued at $15,559,000 after acquiring an additional 754,376 shares in the last quarter. Acadian Asset Management LLC increased its position in MRC Global by 456.3% during the second quarter. Acadian Asset Management LLC now owns 427,298 shares of the oil and gas company’s stock worth $5,513,000 after acquiring an additional 350,492 shares during the period. Foundry Partners LLC acquired a new stake in MRC Global in the 2nd quarter worth about $4,418,000. Finally, Empowered Funds LLC bought a new stake in MRC Global in the 3rd quarter valued at about $3,607,000. Institutional investors own 94.97% of the company’s stock.

Analyst Upgrades and Downgrades

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

MRC Global Stock Performance

Shares of MRC stock opened at $12.63 on Friday. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 14.52 and a beta of 1.97. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $13.23 and its 200-day moving average price is $12.96. MRC Global Inc. has a 12 month low of $9.77 and a 12 month high of $14.91.

MRC Global (NYSE:MRC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm had revenue of $797.00 million for the quarter, compared to analyst estimates of $794.17 million. During the same period in the previous year, the firm posted $0.32 EPS. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities research analysts forecast that MRC Global Inc. will post 0.85 EPS for the current year.

About MRC Global

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.