American Century Companies Inc. boosted its holdings in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 18.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,281,646 shares of the oil and gas company's stock after buying an additional 356,372 shares during the period. American Century Companies Inc. owned approximately 2.68% of MRC Global worth $29,159,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Intech Investment Management LLC purchased a new stake in MRC Global in the 3rd quarter valued at about $193,000. The Manufacturers Life Insurance Company boosted its stake in MRC Global by 33.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 42,883 shares of the oil and gas company's stock worth $546,000 after purchasing an additional 10,822 shares during the period. FMR LLC grew its position in shares of MRC Global by 25.3% during the 3rd quarter. FMR LLC now owns 100,976 shares of the oil and gas company's stock valued at $1,286,000 after purchasing an additional 20,406 shares in the last quarter. Martingale Asset Management L P grew its holdings in shares of MRC Global by 14.2% during the third quarter. Martingale Asset Management L P now owns 153,617 shares of the oil and gas company's stock worth $1,957,000 after purchasing an additional 19,044 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of MRC Global during the 3rd quarter worth $196,000. 94.97% of the stock is owned by institutional investors.
MRC Global Stock Up 0.5 %
NYSE:MRC traded up $0.06 during trading hours on Wednesday, reaching $11.68. 228,680 shares of the company traded hands, compared to its average volume of 769,967. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The business's 50-day moving average price is $12.74 and its two-hundred day moving average price is $12.97. MRC Global Inc. has a 1 year low of $9.42 and a 1 year high of $15.41. The stock has a market capitalization of $1.01 billion, a P/E ratio of 13.43 and a beta of 1.96.
MRC Global (NYSE:MRC - Get Free Report) last announced its quarterly earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.08. The company had revenue of $736.80 million for the quarter, compared to analysts' expectations of $726.90 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. MRC Global's revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 EPS. 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 approved a share buyback plan on Friday, January 3rd that allows the company to buyback $125.00 million in shares. This buyback authorization allows the oil and gas company to purchase up to 11% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
MRC has been the subject of a number of recent research reports. StockNews.com lowered MRC Global from a "buy" rating to a "hold" rating in a research note on Monday, March 17th. Stifel Nicolaus lowered their price objective on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Monday, March 17th. Loop Capital cut their target price on MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Finally, Susquehanna reduced their target price on MRC Global from $17.00 to $15.00 and set a "positive" rating on the stock in a research note on Monday, March 17th.
Get Our Latest Analysis on MRC Global
MRC Global Company Profile
(
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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