First Mercantile Trust Co buys $584,200 stake in MRC Global Inc (MRC)

MRC Global Inc (MRC) : First Mercantile Trust Co scooped up 23,143 additional shares in MRC Global Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 35,045 shares of MRC Global Inc which is valued at $584,200.MRC Global Inc makes up approximately 0.08% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Independent Portfolio Consultants boosted its stake in MRC in the latest quarter, The investment management firm added 20 additional shares and now holds a total of 745 shares of MRC Global Inc which is valued at $12,605.Bnp Paribas Arbitrage Sa boosted its stake in MRC in the latest quarter, The investment management firm added 970 additional shares and now holds a total of 9,180 shares of MRC Global Inc which is valued at $155,326.

MRC Global Inc closed down -0.21 points or -1.24% at $16.67 with 11,83,892 shares getting traded on Friday. Post opening the session at $16.91, the shares hit an intraday low of $16.46 and an intraday high of $16.92 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, MRC Global Inc reported $-0.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.14. The company had revenue of $746.00 million for the quarter, compared to analysts expectations of $742.77 million. The company’s revenue was down -37.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.22 EPS.

Many Wall Street Analysts have commented on MRC Global Inc. Cowen Initiated MRC Global Inc on Sep 16, 2016 to “Market Perform”, Price Target of the shares are set at $16.Maxim Group Upgraded MRC Global Inc on Aug 4, 2016 to ” Buy”, Price Target of the shares are set at $16.MRC Global Inc was Upgraded by CapitalOne to ” Overweight” on Aug 3, 2016.

MRC Global Inc. is a global industrial distributor of pipe valves and fittings (PVF) and related products and services to the energy industry. The Company offers products that are used in the construction maintenance repair and overhaul of equipment used in extreme operating conditions such as high pressure high/low temperature and high corrosive and abrasive environments. Its product types include valves automation and instrumentation carbon steel fittings and flanges and stainless steel and alloy pipe and fittings line pipe and oil country tubular goods among others. The Company offers around 230000 stock keeping units including an array of PVF oilfield supply automation instrumentation and other general and specialty industry supply products. The Company operates through its U.S. Canadian and International segments. It has operations in over 400 service locations. It provides services such as product testing volume purchasing and warehousing among others.

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