MRC Global Inc. (NYSE:MRC) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC increased its position in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 32.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 376,014 shares of the oil and gas company's stock after acquiring an additional 92,874 shares during the quarter. Empowered Funds LLC owned about 0.44% of MRC Global worth $4,805,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MRC. Longboard Asset Management LP bought a new position in shares of MRC Global during the 4th quarter worth approximately $134,000. MQS Management LLC bought a new position in shares of MRC Global during the 3rd quarter worth approximately $154,000. EP Wealth Advisors LLC bought a new position in shares of MRC Global during the 3rd quarter worth approximately $167,000. Intech Investment Management LLC bought a new position in shares of MRC Global during the 3rd quarter worth approximately $193,000. Finally, Walleye Capital LLC bought a new position in shares of MRC Global during the 3rd quarter worth approximately $196,000. Institutional investors own 94.97% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com lowered 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 shares of MRC Global from $16.00 to $17.00 and gave the stock a "positive" rating in a report on Thursday, November 7th.

MRC Global Price Performance

MRC traded up $0.36 during midday trading on Friday, hitting $13.45. 756,337 shares of the company traded hands, compared to its average volume of 687,645. 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 company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 15.46 and a beta of 1.97. MRC Global Inc. has a 52-week low of $11.09 and a 52-week high of $15.41. The business has a 50 day simple moving average of $13.57 and a two-hundred day simple moving average of $13.11.

MRC Global announced that its Board of Directors has approved a share buyback plan on Friday, January 3rd that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the oil and gas company to repurchase up to 11% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

MRC Global Company 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.