Alpine Associates Management Inc. Makes New Investment in MRC Global Inc. $MRC

Alpine Associates Management Inc. purchased a new position in MRC Global Inc. (NYSE:MRC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 164,300 shares of the oil and gas company’s stock, valued at approximately $2,253,000. Alpine Associates Management Inc. owned approximately 0.19% of MRC Global at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MRC. Allspring Global Investments Holdings LLC lifted its holdings in MRC Global by 52.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 23,234 shares of the oil and gas company’s stock worth $270,000 after purchasing an additional 8,034 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of MRC Global by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 318,022 shares of the oil and gas company’s stock worth $3,651,000 after buying an additional 7,974 shares during the last quarter. Jennison Associates LLC boosted its position in shares of MRC Global by 15.0% in the first quarter. Jennison Associates LLC now owns 99,678 shares of the oil and gas company’s stock valued at $1,144,000 after acquiring an additional 12,966 shares during the period. Foundry Partners LLC grew its stake in shares of MRC Global by 1.4% in the first quarter. Foundry Partners LLC now owns 359,253 shares of the oil and gas company’s stock worth $4,124,000 after acquiring an additional 4,858 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in MRC Global during the first quarter worth $2,198,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Loop Capital cut shares of MRC Global from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Monday, October 27th. Susquehanna cut MRC Global from a “positive” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research report on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of MRC Global in a research report on Wednesday, October 8th. Stifel Nicolaus cut their price target on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, July 21st. Finally, Zacks Research raised MRC Global to a “hold” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, MRC Global presently has a consensus rating of “Hold” and a consensus price target of $15.67.

MRC Global Stock Down 0.6%

Shares of NYSE MRC opened at $13.94 on Monday. MRC Global Inc. has a 52-week low of $9.23 and a 52-week high of $15.59. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.00 and a current ratio of 1.84. The stock has a market cap of $1.19 billion, a P/E ratio of -58.08 and a beta of 1.62. The firm has a 50 day moving average price of $14.40 and a 200 day moving average price of $13.53.

MRC Global (NYSE:MRC) last released its quarterly earnings results on Thursday, May 26th. The oil and gas company reported ($0.07) earnings per share for the quarter. The company had revenue of $609.00 million during the quarter. MRC Global had a negative net margin of 0.10% and a positive return on equity of 11.81%. Analysts expect that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global Company 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.