Trading Report: The UBS Asset Management Americas Inc. Increases Stake in MRC Global Inc. (MRC)

The UBS Asset Management Americas Inc. Increases Stake in MRC Global Inc. (MRC)

UBS Asset Management Americas Inc. increased its position in MRC Global Inc. (NYSE:MRC) by 4.3% during the second quarter, Holdings Channel reports. The institutional investor owned 113,160 shares of the company’s stock after buying an additional 4,667 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.12% of MRC Global worth $1,608,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MRC. Springbok Capital Management LLC bought a new position in MRC Global during the first quarter worth approximately $108,000. Fortaleza Asset Management Inc. bought a new position in MRC Global during the second quarter worth approximately $118,000. Kempen Capital Management N.V. boosted its position in MRC Global by 27.3% in the first quarter. Kempen Capital Management N.V. now owns 8,485 shares of the company’s stock worth $111,000 after buying an additional 1,821 shares in the last quarter. Bessemer Group Inc. bought a new position in MRC Global during the first quarter worth approximately $140,000. Finally, Quantitative Systematic Strategies LLC bought a new position in MRC Global during the second quarter worth approximately $167,000. 99.30% of the stock is owned by institutional investors and hedge funds.

MRC Global Inc. (NYSE:MRC) traded down 0.61% during midday trading on Wednesday, reaching $16.33. 67,508 shares of the company were exchanged. The firm’s market capitalization is $1.57 billion. MRC Global Inc. has a 52 week low of $8.50 and a 52 week high of $17.11. The company has a 50-day moving average of $15.11 and a 200 day moving average of $14.20.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by $0.07. MRC Global had a negative net margin of 11.27% and a positive return on equity of 1.60%. The company had revenue of $746 million for the quarter, compared to analyst estimates of $747.81 million. During the same quarter last year, the company earned $0.22 EPS. The business’s revenue was down 37.7% compared to the same quarter last year. Equities analysts predict that MRC Global Inc. will post ($0.59) earnings per share for the current year.

A number of equities analysts have commented on the stock. Wells Fargo & Co. reissued a “hold” rating on shares of MRC Global in a research note on Sunday, September 4th. JPMorgan Chase & Co. reissued a “buy” rating on shares of MRC Global in a research note on Wednesday, August 3rd. Cowen and Company assumed coverage on shares of MRC Global in a research note on Friday, September 16th. They issued a “market perform” rating and a $16.00 price target for the company. Zacks Investment Research cut shares of MRC Global from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Finally, Maxim Group raised shares of MRC Global from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. MRC Global has an average rating of “Hold” and an average price target of $16.00.

In related news, Director Gerard Pieter Krans sold 36,150 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $15.30, for a total value of $553,095.00. Following the sale, the director now owns 18,802 shares in the company, valued at $287,670.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Daniel J. Churay sold 5,350 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $14.77, for a total value of $79,019.50. Following the completion of the sale, the executive vice president now owns 46,292 shares in the company, valued at approximately $683,732.84. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

MRC Global Company Profile

MRC Global Inc is an industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company operates through three segments: the United States of America, Canada and International. It has branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia, Australasia, the Middle East and Kazakhstan.

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