Algert Global LLC Sells 83,622 Shares of MRC Global Inc. (NYSE:MRC)

Algert Global LLC lowered its stake in MRC Global Inc. (NYSE:MRC - Free Report) by 27.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 218,599 shares of the oil and gas company's stock after selling 83,622 shares during the period. Algert Global LLC owned approximately 0.26% of MRC Global worth $2,785,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. CWM LLC boosted its position in MRC Global by 308.2% during the second quarter. CWM LLC now owns 2,584 shares of the oil and gas company's stock worth $33,000 after purchasing an additional 1,951 shares during the period. Innealta Capital LLC acquired a new position in MRC Global during the 2nd quarter worth $45,000. DekaBank Deutsche Girozentrale bought a new stake in MRC Global during the second quarter valued at about $56,000. Canada Pension Plan Investment Board acquired a new stake in shares of MRC Global in the second quarter valued at about $56,000. Finally, nVerses Capital LLC bought a new position in shares of MRC Global in the second quarter worth about $70,000. Institutional investors and hedge funds own 94.97% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on MRC. StockNews.com lowered MRC Global from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 9th. Stifel Nicolaus increased their price objective on MRC Global from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Finally, Susquehanna boosted their target price on shares of MRC Global from $16.00 to $17.00 and gave the stock a "positive" rating in a research report on Thursday, November 7th.

MRC Global Stock Performance

MRC stock traded down $0.06 during trading on Wednesday, reaching $13.95. 314,185 shares of the stock were exchanged, compared to its average volume of 588,263. MRC Global Inc. has a twelve month low of $9.77 and a twelve month high of $14.91. 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 company has a market capitalization of $1.19 billion, a P/E ratio of 16.09 and a beta of 1.97. The stock has a 50 day simple moving average of $12.90 and a 200-day simple moving average of $12.94.

MRC Global (NYSE:MRC - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business had revenue of $797.00 million for the quarter, compared to analysts' expectations of $794.17 million. During the same period in the previous year, the business posted $0.32 earnings per share. MRC Global's quarterly revenue was down 10.2% on a year-over-year basis. As a group, sell-side analysts anticipate that MRC Global Inc. will post 0.89 earnings per share 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.