CarsonAllaria Wealth Management Ltd. Invests $327,000 in MRC Global Inc. (NYSE:MRC)

CarsonAllaria Wealth Management Ltd. bought a new position in shares of MRC Global Inc. (NYSE:MRC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,610 shares of the oil and gas company's stock, valued at approximately $327,000.

Several other institutional investors have also recently made changes to their positions in MRC. Longboard Asset Management LP purchased a new position in shares of MRC Global during the fourth quarter worth $134,000. MQS Management LLC acquired a new stake in shares of MRC Global during the 3rd quarter worth approximately $154,000. EP Wealth Advisors LLC acquired a new stake in shares of MRC Global during the 3rd quarter worth approximately $167,000. Intech Investment Management LLC acquired a new stake in shares of MRC Global during the 3rd quarter worth approximately $193,000. Finally, Walleye Capital LLC acquired a new stake in shares of MRC Global during the 3rd quarter worth approximately $196,000. Hedge funds and other institutional investors own 94.97% of the company's stock.

MRC Global Price Performance

MRC stock traded down $0.60 during mid-day trading on Friday, reaching $12.78. 1,054,424 shares of the company's stock were exchanged, compared to its average volume of 687,645. MRC Global Inc. has a 12-month low of $10.31 and a 12-month 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 stock's 50 day moving average is $13.66 and its 200 day moving average is $13.18. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 14.69 and a beta of 1.97.

MRC Global (NYSE:MRC - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm had revenue of $797.00 million during the quarter, compared to the consensus estimate of $794.17 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The company's revenue for the quarter was down 10.2% on a year-over-year basis. On average, research analysts expect that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global declared that its board has authorized a stock repurchase program on Friday, January 3rd that authorizes the company to buyback $125.00 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 11% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of MRC Global from a "strong-buy" rating to a "buy" rating in a research note on Saturday, November 9th. Susquehanna increased their price target on MRC Global from $16.00 to $17.00 and gave the stock a "positive" rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus increased their price target on MRC Global from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th.

MRC Global Profile

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.