Charles Schwab Investment Management Inc. Has $13.24 Million Holdings in MRC Global Inc. (NYSE:MRC)

Charles Schwab Investment Management Inc. cut its stake in MRC Global Inc. (NYSE:MRC - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,036,062 shares of the oil and gas company's stock after selling 162,102 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.22% of MRC Global worth $13,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of MRC Global by 197.7% during the third quarter. Barclays PLC now owns 151,169 shares of the oil and gas company's stock worth $1,927,000 after buying an additional 100,384 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of MRC Global by 32.8% in the fourth quarter. Empowered Funds LLC now owns 376,014 shares of the oil and gas company's stock valued at $4,805,000 after purchasing an additional 92,874 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of MRC Global in the fourth quarter worth $1,108,000. Wellington Management Group LLP boosted its holdings in MRC Global by 1.8% during the third quarter. Wellington Management Group LLP now owns 3,209,251 shares of the oil and gas company's stock worth $40,886,000 after purchasing an additional 55,553 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its position in MRC Global by 171.2% in the third quarter. Dynamic Technology Lab Private Ltd now owns 86,434 shares of the oil and gas company's stock valued at $1,101,000 after purchasing an additional 54,560 shares in the last quarter. Institutional investors own 94.97% of the company's stock.

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Analysts Set New Price Targets

MRC has been the subject of a number of recent research reports. Susquehanna reduced their price objective on shares of MRC Global from $17.00 to $15.00 and set a "positive" rating for the company in a research note on Monday, March 17th. Stifel Nicolaus lowered their price target on MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Loop Capital decreased their target price on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Finally, StockNews.com lowered shares of MRC Global from a "buy" rating to a "hold" rating in a research report on Monday, March 17th.

MRC Global Stock Performance

Shares of NYSE MRC traded up $0.06 during midday trading on Tuesday, hitting $12.13. 584,469 shares of the company's stock were exchanged, compared to its average volume of 579,309. 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 firm has a market capitalization of $1.04 billion, a PE ratio of 13.94 and a beta of 1.96. MRC Global Inc. has a 12 month low of $9.42 and a 12 month high of $15.41. The company's 50 day moving average price is $13.04 and its 200 day moving average price is $12.98.

MRC Global (NYSE:MRC - Get Free Report) last released its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates of $0.08. The firm had revenue of $736.80 million during 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%. The company's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 earnings per share. As a group, analysts predict that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

MRC Global declared that its Board of Directors has authorized a share buyback program on Friday, January 3rd that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 11% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.