Frontier Capital Management Co. LLC Sells 31,306 Shares of MRC Global Inc. (NYSE:MRC)

Frontier Capital Management Co. LLC reduced its position in MRC Global Inc. (NYSE:MRC) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,692,857 shares of the oil and gas company’s stock after selling 31,306 shares during the quarter. Frontier Capital Management Co. LLC owned 6.68% of MRC Global worth $72,755,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank purchased a new position in shares of MRC Global in the 4th quarter valued at $34,000. Sterling Capital Management LLC boosted its position in MRC Global by 821.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 2,406 shares in the last quarter. Meeder Asset Management Inc. bought a new position in MRC Global in the fourth quarter worth about $56,000. Longboard Asset Management LP bought a new position in MRC Global in the fourth quarter worth about $134,000. Finally, Ieq Capital LLC purchased a new stake in shares of MRC Global during the fourth quarter valued at about $187,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

MRC Global Trading Down 5.8 %

NYSE:MRC opened at $11.50 on Thursday. 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 firm has a fifty day simple moving average of $11.24 and a 200-day simple moving average of $12.64. MRC Global Inc. has a 12 month low of $9.23 and a 12 month high of $15.41. The company has a market capitalization of $991.35 million, a P/E ratio of 13.22 and a beta of 1.63.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. The company had revenue of $712.00 million during the quarter, compared to analysts’ expectations of $710.00 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The firm’s revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS. On average, equities research analysts anticipate that MRC Global Inc. will post 0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Susquehanna cut their price objective on shares of MRC Global from $15.00 to $13.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus lowered their price objective on MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, March 17th. StockNews.com upgraded MRC Global from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Loop Capital dropped their price target on MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th.

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.