Charles Schwab Investment Management Inc. Trims Stock Holdings in MRC Global Inc. (NYSE:MRC)

Charles Schwab Investment Management Inc. decreased its position in MRC Global Inc. (NYSE:MRC) by 7.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,198,164 shares of the oil and gas company’s stock after selling 96,892 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.41% of MRC Global worth $15,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in MRC Global in the 3rd quarter worth $193,000. Pzena Investment Management LLC raised its stake in MRC Global by 0.4% in the 3rd quarter. Pzena Investment Management LLC now owns 5,770,791 shares of the oil and gas company’s stock worth $73,520,000 after acquiring an additional 20,407 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of MRC Global during the 3rd quarter valued at about $3,607,000. Oppenheimer Asset Management Inc. purchased a new position in shares of MRC Global during the 3rd quarter valued at about $329,000. Finally, MQS Management LLC purchased a new position in shares of MRC Global during the 3rd quarter valued at about $154,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

MRC Global Price Performance

Shares of MRC Global stock opened at $13.57 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. MRC Global Inc. has a twelve month low of $9.77 and a twelve month high of $14.91. The business has a 50-day moving average price of $13.12 and a 200 day moving average price of $12.96. The firm has a market cap of $1.16 billion, a PE ratio of 15.60 and a beta of 1.97.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com lowered MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 9th. Stifel Nicolaus lifted their price objective on MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Susquehanna lifted their price objective on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research note on Thursday, November 7th.

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.