Jane Street Group LLC Has $387,000 Holdings in MRC Global Inc. (NYSE:MRC)

Jane Street Group LLC lowered its position in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 62.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,353 shares of the oil and gas company's stock after selling 50,504 shares during the quarter. Jane Street Group LLC's holdings in MRC Global were worth $387,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Canada Pension Plan Investment Board bought a new position in MRC Global in the 2nd quarter valued at about $56,000. DekaBank Deutsche Girozentrale bought a new position in MRC Global in the second quarter valued at approximately $56,000. Quarry LP raised its position in MRC Global by 162.8% during the second quarter. Quarry LP now owns 7,333 shares of the oil and gas company's stock valued at $95,000 after purchasing an additional 4,543 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new stake in MRC Global during the second quarter worth $145,000. Finally, MQS Management LLC acquired a new stake in shares of MRC Global in the 3rd quarter valued at $154,000. Institutional investors own 94.97% of the company's stock.

Wall Street Analyst Weigh In

MRC has been the subject of several recent analyst reports. StockNews.com downgraded MRC Global from a "strong-buy" rating to a "buy" rating in a research report on Saturday, November 9th. Stifel Nicolaus increased their target price on shares of MRC Global from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Finally, Susquehanna lifted their price target on shares of MRC Global from $16.00 to $17.00 and gave the company a "positive" rating in a report on Thursday, November 7th.

MRC Global Price Performance

MRC traded up $0.07 on Wednesday, reaching $13.22. The stock had a trading volume of 365,824 shares, compared to its average volume of 548,945. 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 $1.13 billion, a price-to-earnings ratio of 15.20 and a beta of 1.97. MRC Global Inc. has a fifty-two week low of $9.77 and a fifty-two week high of $14.91. The firm has a 50-day moving average of $13.31 and a 200-day moving average of $13.00.

MRC Global (NYSE:MRC - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The company 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 posted $0.32 earnings per share. The firm's revenue was down 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that MRC Global Inc. will post 0.85 EPS for the current year.

MRC Global declared that its Board of Directors has approved a stock buyback program on Friday, January 3rd that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 11% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management 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.