Kennedy Capital Management LLC lessened its stake in MRC Global Inc. (NYSE:MRC - Free Report) by 21.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 575,930 shares of the oil and gas company's stock after selling 152,873 shares during the quarter. Kennedy Capital Management LLC owned about 0.68% of MRC Global worth $7,360,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its position in MRC Global by 33.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 42,883 shares of the oil and gas company's stock valued at $546,000 after buying an additional 10,822 shares during the last quarter. FMR LLC grew its stake in MRC Global by 25.3% during the 3rd quarter. FMR LLC now owns 100,976 shares of the oil and gas company's stock valued at $1,286,000 after purchasing an additional 20,406 shares in the last quarter. State Street Corp grew its stake in MRC Global by 1.2% during the 3rd quarter. State Street Corp now owns 1,923,272 shares of the oil and gas company's stock valued at $24,502,000 after purchasing an additional 23,125 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of MRC Global during the third quarter worth approximately $167,000. Finally, Barclays PLC increased its stake in shares of MRC Global by 197.7% in 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 during the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.
MRC Global Stock Performance
NYSE MRC traded up $0.04 during trading hours on Tuesday, reaching $10.23. The company's stock had a trading volume of 539,468 shares, compared to its average volume of 627,330. 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 business has a 50-day simple moving average of $11.66 and a 200 day simple moving average of $12.77. MRC Global Inc. has a 52 week low of $9.23 and a 52 week high of $15.41. The stock has a market cap of $880.20 million, a PE ratio of 11.75 and a beta of 1.67.
MRC Global (NYSE:MRC - Get Free Report) last announced its quarterly earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business had revenue of $736.80 million for the quarter, compared to the consensus estimate of $726.90 million. During the same quarter last year, the business posted $0.23 EPS. The business's revenue was down 10.3% on a year-over-year basis. Equities research analysts predict that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.
MRC Global declared that its board has initiated a share repurchase plan on Friday, January 3rd that permits the company to buyback $125.00 million in shares. This buyback authorization permits the oil and gas company to purchase up to 11% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.
Wall Street Analyst Weigh In
MRC has been the subject of several recent analyst reports. Susquehanna decreased their price objective on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a report on Monday. StockNews.com lowered MRC Global from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Loop Capital reduced their target price on MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Finally, Stifel Nicolaus dropped 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.
Check Out Our Latest Analysis on MRC Global
About MRC Global
(
Free Report)
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.
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