Cubist Systematic Strategies LLC Has $4.16 Million Position in MRC Global Inc. (NYSE:MRC)

Cubist Systematic Strategies LLC increased its stake in shares of MRC Global Inc. (NYSE:MRC) by 57.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,886 shares of the oil and gas company’s stock after purchasing an additional 117,839 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.38% of MRC Global worth $4,156,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of MRC Global by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,327,337 shares of the oil and gas company’s stock worth $36,635,000 after buying an additional 36,845 shares during the last quarter. Trexquant Investment LP bought a new stake in MRC Global during the 4th quarter worth $319,000. CastleKnight Management LP increased its holdings in MRC Global by 8.9% in the 4th quarter. CastleKnight Management LP now owns 170,600 shares of the oil and gas company’s stock worth $1,878,000 after purchasing an additional 14,000 shares in the last quarter. Engine Capital Management LP raised its position in MRC Global by 30.0% in the fourth quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock valued at $42,574,000 after purchasing an additional 891,454 shares during the last quarter. Finally, Appian Way Asset Management LP acquired a new stake in shares of MRC Global during the fourth quarter valued at about $4,745,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

MRC Global Price Performance

Shares of MRC opened at $12.64 on Friday. The business has a 50-day moving average of $12.85 and a 200-day moving average of $12.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.10. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 14.70 and a beta of 1.97. MRC Global Inc. has a 1 year low of $9.47 and a 1 year high of $14.91.

MRC Global (NYSE:MRC) last released its quarterly 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. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The firm had revenue of $832.00 million during the quarter, compared to analyst estimates of $831.32 million. During the same quarter last year, the business earned $0.25 EPS. The company’s revenue was down 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that MRC Global Inc. will post 0.91 earnings per share for the current year.

Analysts Set New Price Targets

MRC has been the subject of several recent research reports. StockNews.com raised MRC Global from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Susquehanna restated a “positive” rating and issued a $16.00 price target on shares of MRC Global in a research report on Wednesday, June 26th.

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.