SG Americas Securities LLC purchased a new stake in shares of MRC Global Inc. (NYSE:MRC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 37,285 shares of the oil and gas company's stock, valued at approximately $477,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. MQS Management LLC purchased a new stake in shares of MRC Global in the third quarter valued at $154,000. EP Wealth Advisors LLC purchased a new stake in shares of MRC Global during the 3rd quarter worth $167,000. Intech Investment Management LLC purchased a new position in shares of MRC Global in the 3rd quarter worth approximately $193,000. Walleye Capital LLC acquired a new position in shares of MRC Global during the third quarter worth $196,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of MRC Global by 20.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 15,575 shares of the oil and gas company's stock worth $198,000 after acquiring an additional 2,639 shares during the last quarter. Institutional investors own 94.97% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the stock. Stifel Nicolaus raised their price target 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. Susquehanna lifted 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. Finally, StockNews.com lowered shares of MRC Global from a "strong-buy" rating to a "buy" rating in a research note on Saturday, November 9th.
Read Our Latest Analysis on MRC
MRC Global Stock Performance
Shares of NYSE MRC traded up $0.01 during trading hours on Wednesday, reaching $14.49. The stock had a trading volume of 444,509 shares, compared to its average volume of 663,305. 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 fifty-two week low of $10.29 and a fifty-two week high of $15.41. The firm has a 50-day moving average of $13.70 and a 200-day moving average of $13.19. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 16.65 and a beta of 1.97.
MRC Global (NYSE:MRC - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $797.00 million for 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 company's revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Equities research analysts predict that MRC Global Inc. will post 0.86 earnings per share for the current year.
MRC Global announced that its Board of Directors has initiated a share repurchase plan on Friday, January 3rd that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 11% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.
About MRC Global
(
Free Report)
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.
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