Y Intercept Hong Kong Ltd Has $398,000 Stake in MRC Global Inc. (NYSE:MRC)

Y Intercept Hong Kong Ltd reduced its stake in shares of MRC Global Inc. (NYSE:MRC) by 41.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,203 shares of the oil and gas company’s stock after selling 22,099 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in MRC Global were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Essex Investment Management Co. LLC increased its position in shares of MRC Global by 0.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 300,195 shares of the oil and gas company’s stock worth $3,824,000 after purchasing an additional 1,063 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of MRC Global by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 72,238 shares of the oil and gas company’s stock worth $933,000 after buying an additional 1,149 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of MRC Global by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 32,061 shares of the oil and gas company’s stock valued at $414,000 after acquiring an additional 1,289 shares during the last quarter. CWM LLC boosted its holdings in shares of MRC Global by 308.2% in the 2nd quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 1,951 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in MRC Global by 9.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,532 shares of the oil and gas company’s stock worth $317,000 after acquiring an additional 2,176 shares during the last quarter. 94.97% of the stock is owned by institutional investors.

MRC Global Stock Performance

Shares of NYSE:MRC opened at $13.27 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. MRC Global Inc. has a 1-year low of $9.77 and a 1-year high of $14.91. The stock has a market capitalization of $1.13 billion, a P/E ratio of 15.25 and a beta of 1.97. The business has a 50-day moving average price of $13.21 and a two-hundred day moving average price of $12.97.

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

Analysts Set New Price Targets

Several brokerages have issued reports on MRC. StockNews.com downgraded MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 9th. Stifel Nicolaus upped their price target on shares of MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Susquehanna raised their price objective on shares of MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Thursday, November 7th.

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.