Empowered Funds LLC Invests $3.61 Million in MRC Global Inc. (NYSE:MRC)

Empowered Funds LLC purchased a new position in MRC Global Inc. (NYSE:MRC - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 283,140 shares of the oil and gas company's stock, valued at approximately $3,607,000. Empowered Funds LLC owned about 0.33% of MRC Global as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Russell Investments Group Ltd. lifted its holdings in MRC Global by 13.5% in the first quarter. Russell Investments Group Ltd. now owns 163,006 shares of the oil and gas company's stock worth $2,049,000 after acquiring an additional 19,369 shares during the last quarter. ProShare Advisors LLC boosted its position in MRC Global by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company's stock valued at $190,000 after purchasing an additional 1,186 shares during the period. Vanguard Group Inc. boosted its position in MRC Global by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company's stock valued at $115,391,000 after purchasing an additional 175,865 shares during the period. Acadian Asset Management LLC bought a new position in MRC Global during the 1st quarter worth $963,000. Finally, Quadrature Capital Ltd acquired a new stake in MRC Global in the first quarter worth $218,000. 94.97% of the stock is owned by institutional investors and hedge funds.

MRC Global Stock Performance

MRC stock traded down $0.09 during trading on Tuesday, reaching $13.31. 393,459 shares of the company's stock were exchanged, compared to its average volume of 589,050. The firm has a market cap of $1.13 billion, a PE ratio of 15.30 and a beta of 1.97. The company has a quick ratio of 1.11, a current ratio of 1.99 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 company's fifty day moving average price is $12.70 and its 200-day moving average price is $12.88.

MRC Global (NYSE:MRC - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $797.00 million during the quarter, compared to the consensus estimate of $794.17 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company's quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. On average, research analysts expect that MRC Global Inc. will post 0.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MRC shares. Susquehanna boosted their price target on shares of MRC Global from $16.00 to $17.00 and gave the company a "positive" rating in a report on Thursday, November 7th. StockNews.com downgraded shares of MRC Global from a "strong-buy" rating to a "buy" rating in a research report on Saturday, November 9th. Finally, Stifel Nicolaus upped their target price 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.

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.