Essex Investment Management Co. LLC Sells 31,709 Shares of MRC Global Inc. (NYSE:MRC)

Essex Investment Management Co. LLC trimmed its holdings in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 268,486 shares of the oil and gas company's stock after selling 31,709 shares during the quarter. Essex Investment Management Co. LLC owned about 0.31% of MRC Global worth $3,431,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd increased its holdings in shares of MRC Global by 7.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 33,422 shares of the oil and gas company's stock valued at $427,000 after acquiring an additional 2,219 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in 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 valued at $387,000 after purchasing an additional 4,440 shares during the last quarter. New York State Common Retirement Fund grew its holdings in 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 valued at $357,000 after purchasing an additional 4,992 shares during the last quarter. Longboard Asset Management LP bought a new position in shares of MRC Global in the fourth quarter valued at approximately $134,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of MRC Global by 33.8% in the third quarter. The Manufacturers Life Insurance Company now owns 42,883 shares of the oil and gas company's stock worth $546,000 after buying an additional 10,822 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

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MRC Global Stock Performance

NYSE:MRC traded down $0.16 during midday trading on Thursday, reaching $11.08. The stock had a trading volume of 554,094 shares, compared to its average volume of 559,530. The stock has a market capitalization of $944.07 million, a P/E ratio of 12.73 and a beta of 1.96. MRC Global Inc. has a 1-year low of $10.93 and a 1-year 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 firm's fifty day simple moving average is $13.23 and its 200-day simple moving average is $13.03.

MRC Global declared that its board has approved a share repurchase program on Friday, January 3rd that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 11% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is 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.