Assenagon Asset Management S.A. Sells 64,303 Shares of MRC Global Inc. (NYSE:MRC)

Assenagon Asset Management S.A. decreased its holdings in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 10.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 539,937 shares of the oil and gas company's stock after selling 64,303 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.63% of MRC Global worth $6,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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 valued at $33,000 after buying an additional 1,951 shares during the last quarter. Innealta Capital LLC bought a new position in shares of MRC Global in the 2nd quarter valued at about $45,000. Canada Pension Plan Investment Board acquired a new position in shares of MRC Global during the 2nd quarter worth about $56,000. DekaBank Deutsche Girozentrale bought a new stake in shares of MRC Global in the 2nd quarter valued at about $56,000. Finally, nVerses Capital LLC acquired a new stake in MRC Global in the 2nd quarter valued at about $70,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MRC shares. Stifel Nicolaus upped their price objective on MRC Global from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. StockNews.com cut MRC Global from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 18th.

MRC Global Stock Performance

NYSE MRC traded down $0.07 on Tuesday, reaching $12.19. The stock had a trading volume of 301,687 shares, compared to its average volume of 579,969. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.10. The company has a market cap of $1.04 billion, a P/E ratio of 13.14 and a beta of 1.97. The firm has a fifty day moving average of $12.54 and a two-hundred day moving average of $12.72. MRC Global Inc. has a 1-year low of $9.53 and a 1-year high of $14.91.

MRC Global (NYSE:MRC - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.24 by $0.07. The business had revenue of $832.00 million for the quarter, compared to the consensus estimate of $831.32 million. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. MRC Global's revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 earnings per share. On average, equities research analysts anticipate that MRC Global Inc. will post 0.85 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.