Brandywine Global Investment Management LLC lifted its stake in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 11.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 289,352 shares of the oil and gas company's stock after buying an additional 29,394 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.34% of MRC Global worth $3,698,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Longboard Asset Management LP purchased a new stake in MRC Global in the fourth quarter valued at $134,000. EP Wealth Advisors LLC acquired a new stake in shares of MRC Global during the third quarter worth about $167,000. Ieq Capital LLC acquired a new stake in shares of MRC Global during the fourth quarter worth about $187,000. Intech Investment Management LLC purchased a new stake in shares of MRC Global in the 3rd quarter valued at about $193,000. Finally, Walleye Capital LLC acquired a new stake in shares of MRC Global in the 3rd quarter valued at about $196,000. Institutional investors and hedge funds own 94.97% of the company's stock.
Wall Street Analysts Forecast Growth
MRC has been the subject of a number of research reports. StockNews.com cut MRC Global from a "buy" rating to a "hold" rating in a research note on Monday, March 17th. Susquehanna reduced their price target on shares of MRC Global from $17.00 to $15.00 and set a "positive" rating for the company in a research report on Monday, March 17th. Stifel Nicolaus decreased their price target 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. Finally, Loop Capital dropped their price objective on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th.
Get Our Latest Research Report on MRC
MRC Global Stock Performance
Shares of MRC stock traded down $1.14 during midday trading on Thursday, hitting $10.56. The company had a trading volume of 639,647 shares, compared to its average volume of 620,997. MRC Global Inc. has a 52-week low of $9.42 and a 52-week high of $15.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11. The company's 50 day simple moving average is $12.59 and its 200 day simple moving average is $12.95. The stock has a market cap of $908.61 million, a price-to-earnings ratio of 12.13 and a beta of 1.96.
MRC Global (NYSE:MRC - Get Free Report) last announced its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company had revenue of $736.80 million for the quarter, compared to analysts' expectations of $726.90 million. During the same period in the previous year, the company posted $0.23 EPS. MRC Global's revenue was down 10.3% compared to the same quarter last year. Research analysts anticipate that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.
MRC Global announced that its Board of Directors has approved a share buyback plan on Friday, January 3rd that permits the company to repurchase $125.00 million in shares. This repurchase authorization permits the oil and gas company to reacquire up to 11% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.
MRC Global Company Profile
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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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