Mill Road Capital Management LLC Buys New Holdings in MRC Global Inc. (NYSE:MRC)

Mill Road Capital Management LLC purchased a new position in shares of MRC Global Inc. (NYSE:MRC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,300 shares of the oil and gas company’s stock, valued at approximately $437,000. MRC Global comprises about 0.2% of Mill Road Capital Management LLC’s portfolio, making the stock its 22nd biggest position.

A number of other large investors also recently modified their holdings of MRC. CWM LLC increased its holdings in 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 purchasing an additional 1,951 shares in the last quarter. Innealta Capital LLC acquired a new position in MRC Global during the 2nd quarter worth approximately $45,000. Canada Pension Plan Investment Board purchased a new position in MRC Global in the 2nd quarter worth approximately $56,000. DekaBank Deutsche Girozentrale purchased a new position in shares of MRC Global in the second quarter valued at $56,000. Finally, nVerses Capital LLC purchased a new stake in MRC Global during the 2nd quarter worth $70,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

MRC Global Price Performance

Shares of NYSE MRC opened at $14.16 on Wednesday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 16.28 and a beta of 1.97. The business has a 50 day simple moving average of $13.01 and a 200-day simple moving average of $12.95. 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 twelve month low of $9.77 and a twelve month high of $14.91.

MRC Global (NYSE:MRC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company had revenue of $797.00 million for the quarter, compared to the consensus estimate of $794.17 million. During the same period last year, the firm posted $0.32 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, equities research analysts expect that MRC Global Inc. will post 0.89 earnings per share for the current year.

Analyst Ratings Changes

MRC has been the topic of a number of analyst reports. StockNews.com lowered MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 9th. Stifel Nicolaus raised 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. Finally, Susquehanna lifted their price target on shares of MRC Global from $16.00 to $17.00 and gave the stock a “positive” rating in a research note on Thursday, November 7th.

MRC Global 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.