63,955 Shares in MRC Global Inc. (NYSE:MRC) Acquired by Caisse Des Depots ET Consignations

Caisse Des Depots ET Consignations acquired a new stake in MRC Global Inc. (NYSE:MRC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 63,955 shares of the oil and gas company's stock, valued at approximately $817,000. Caisse Des Depots ET Consignations owned about 0.08% of MRC Global at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Swiss National Bank grew its position in shares of MRC Global by 0.9% in the 4th quarter. Swiss National Bank now owns 167,649 shares of the oil and gas company's stock valued at $2,143,000 after purchasing an additional 1,500 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in shares of MRC Global by 7.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 33,422 shares of the oil and gas company's stock valued at $427,000 after buying an additional 2,219 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of MRC Global by 17.2% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 30,264 shares of the oil and gas company's stock worth $387,000 after acquiring an additional 4,440 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of MRC Global by 21.8% during the fourth quarter. New York State Common Retirement Fund now owns 27,900 shares of the oil and gas company's stock worth $357,000 after acquiring an additional 4,992 shares during the period. Finally, Longboard Asset Management LP bought a new stake in MRC Global in the 4th quarter valued at $134,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research firms have issued reports on MRC. Susquehanna dropped their price target 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. StockNews.com lowered MRC Global from a "buy" rating to a "hold" rating in a research report on Monday, March 17th. Stifel Nicolaus reduced their price target on MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Finally, Loop Capital lowered their price objective on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th.

MRC Global Stock Up 1.1 %

Shares of NYSE:MRC traded up $0.12 during midday trading on Tuesday, reaching $11.60. The company had a trading volume of 100,143 shares, compared to its average volume of 616,574. MRC Global Inc. has a 1-year low of $9.42 and a 1-year high of $15.41. The stock has a market cap of $998.73 million, a PE ratio of 13.33 and a beta of 1.96. 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 business's 50 day moving average price is $12.81 and its 200 day moving average price is $12.98.

MRC Global (NYSE:MRC - Get Free Report) last posted its quarterly earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $736.80 million for the quarter, compared to analyst estimates of $726.90 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business's quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 EPS. Research analysts forecast that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

MRC Global announced that its Board of Directors has approved a share repurchase 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 buy up to 11% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

About MRC Global

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.