Triad Investment Management Buys 26,168 Shares of MRC Global Inc (NYSE:MRC)
Triad Investment Management boosted its stake in shares of MRC Global Inc (NYSE:MRC) by 12.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 228,730 shares of the oil and gas company’s stock after buying an additional 26,168 shares during the period. MRC Global accounts for 4.1% of Triad Investment Management’s investment portfolio, making the stock its 4th largest position. Triad Investment Management owned 0.28% of MRC Global worth $3,916,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investors Research Corp boosted its stake in MRC Global by 50.0% during the second quarter. Investors Research Corp now owns 1,800 shares of the oil and gas company’s stock worth $31,000 after buying an additional 600 shares during the last quarter. Amalgamated Bank acquired a new position in shares of MRC Global in the 4th quarter valued at $144,000. Hsbc Holdings PLC acquired a new position in shares of MRC Global in the 4th quarter valued at $153,000. CWM Advisors LLC acquired a new position in shares of MRC Global in the 2nd quarter valued at $181,000. Finally, MHI Funds LLC lifted its stake in shares of MRC Global by 29.7% in the 1st quarter. MHI Funds LLC now owns 11,666 shares of the oil and gas company’s stock valued at $204,000 after purchasing an additional 2,669 shares during the last quarter.
In related news, EVP Daniel J. Churay sold 25,286 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $17.11, for a total transaction of $432,643.46. Following the transaction, the executive vice president now owns 82,834 shares of the company’s stock, valued at approximately $1,417,289.74. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Daniel J. Churay sold 54,479 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $16.83, for a total value of $916,881.57. Following the transaction, the executive vice president now directly owns 82,834 shares in the company, valued at approximately $1,394,096.22. The disclosure for this sale can be found here. 23.10% of the stock is currently owned by corporate insiders.
MRC Global (NYSE:MRC) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.08. MRC Global had a return on equity of 10.65% and a net margin of 1.79%. The business had revenue of $970.00 million for the quarter, compared to analyst estimates of $953.51 million. During the same quarter in the prior year, the company posted $0.13 EPS. The company’s quarterly revenue was down 4.0% on a year-over-year basis. Equities analysts predict that MRC Global Inc will post 0.87 earnings per share for the current year.
Several equities analysts have recently commented on MRC shares. Jefferies Financial Group upped their price target on ServiceNow from $242.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Stifel Nicolaus raised QUALCOMM from a “hold” rating to a “buy” rating and upped their price target for the company from $57.00 to $100.00 in a research note on Tuesday, April 16th. Finally, ValuEngine lowered United Rentals from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. MRC Global has a consensus rating of “Hold” and an average target price of $21.44.
MRC Global Profile
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.
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