Dynamic Technology Lab Private Ltd Buys 54,560 Shares of MRC Global Inc. (NYSE:MRC)

Dynamic Technology Lab Private Ltd raised its position in MRC Global Inc. (NYSE:MRC) by 171.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 86,434 shares of the oil and gas company’s stock after acquiring an additional 54,560 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in MRC Global were worth $1,101,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MRC. Intech Investment Management LLC purchased a new position in shares of MRC Global in the 3rd quarter valued at approximately $193,000. Pzena Investment Management LLC increased its stake in shares of MRC Global by 0.4% in the third quarter. Pzena Investment Management LLC now owns 5,770,791 shares of the oil and gas company’s stock worth $73,520,000 after acquiring an additional 20,407 shares during the period. Empowered Funds LLC purchased a new position in shares of MRC Global during the 3rd quarter valued at about $3,607,000. Oppenheimer Asset Management Inc. acquired a new position in MRC Global in the third quarter valued at approximately $329,000. Finally, MQS Management LLC purchased a new stake in MRC Global in the 3rd quarter worth approximately $154,000. 94.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MRC has been the topic of a number of analyst reports. StockNews.com cut MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 9th. 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 report on Tuesday, October 15th. Finally, Susquehanna upped their price target on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Thursday, November 7th.

MRC Global Price Performance

NYSE:MRC opened at $14.01 on Wednesday. The stock’s fifty day moving average is $12.86 and its two-hundred day moving average is $12.94. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.19 billion, a P/E ratio of 16.10 and a beta of 1.97. MRC Global Inc. has a 52 week low of $9.77 and a 52 week high of $14.91.

MRC Global (NYSE:MRC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The firm 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 firm’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period last year, the firm posted $0.32 EPS. Equities analysts expect that MRC Global Inc. will post 0.89 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.