Mill Road Capital Management LLC Takes Position in MRC Global Inc. (NYSE:MRC)

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MRC. Price T Rowe Associates Inc. MD grew its stake in shares of MRC Global by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 66,187 shares of the oil and gas company’s stock worth $832,000 after purchasing an additional 2,735 shares in the last quarter. CWM LLC boosted its stake 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 valued at $33,000 after buying an additional 1,951 shares in the last quarter. SG Americas Securities LLC grew its holdings in MRC Global by 44.6% during the second quarter. SG Americas Securities LLC now owns 12,570 shares of the oil and gas company’s stock worth $162,000 after acquiring an additional 3,877 shares during the period. SummerHaven Investment Management LLC lifted its holdings in MRC Global by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 72,238 shares of the oil and gas company’s stock valued at $933,000 after acquiring an additional 1,149 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of MRC Global by 9.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 416,182 shares of the oil and gas company’s stock valued at $5,373,000 after purchasing an additional 37,557 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MRC has been the subject of several recent research reports. StockNews.com lowered shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 9th. Stifel Nicolaus increased 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. Finally, Susquehanna upped their price target on 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 Stock Performance

NYSE:MRC opened at $14.16 on Wednesday. The firm has a market capitalization of $1.21 billion, a PE ratio of 16.28 and a beta of 1.97. 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 1 year low of $9.77 and a 1 year high of $14.91. The firm’s fifty day simple moving average is $13.01 and its 200 day simple moving average is $12.95.

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

About MRC Global

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.