State Street Corp Acquires 23,125 Shares of MRC Global Inc. (NYSE:MRC)

State Street Corp increased its holdings in shares of MRC Global Inc. (NYSE:MRC) by 1.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,923,272 shares of the oil and gas company’s stock after purchasing an additional 23,125 shares during the quarter. State Street Corp owned 2.26% of MRC Global worth $24,502,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MRC. Innealta Capital LLC acquired a new stake in MRC Global in the 2nd quarter valued at approximately $45,000. Canada Pension Plan Investment Board bought a new stake in MRC Global during the 2nd quarter worth about $56,000. DekaBank Deutsche Girozentrale acquired a new position in shares of MRC Global during the 2nd quarter worth about $56,000. nVerses Capital LLC bought a new position in shares of MRC Global in the 2nd quarter valued at about $70,000. Finally, Quarry LP increased its position in shares of MRC Global by 162.8% in the second quarter. Quarry LP now owns 7,333 shares of the oil and gas company’s stock valued at $95,000 after acquiring an additional 4,543 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

MRC Global Stock Performance

NYSE:MRC opened at $12.55 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. MRC Global Inc. has a fifty-two week low of $9.77 and a fifty-two week high of $14.91. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 14.43 and a beta of 1.97. The stock has a fifty day moving average price of $13.21 and a 200-day moving average price of $12.96.

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