Legato Capital Management LLC lessened its holdings in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 23.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,011 shares of the oil and gas company's stock after selling 24,610 shares during the quarter. Legato Capital Management LLC owned approximately 0.09% of MRC Global worth $1,023,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Longboard Asset Management LP bought a new stake in MRC Global in the 4th quarter valued at $134,000. MQS Management LLC acquired a new position in shares of MRC Global in the third quarter valued at $154,000. EP Wealth Advisors LLC bought a new position in shares of MRC Global in the third quarter valued at about $167,000. Intech Investment Management LLC acquired a new stake in shares of MRC Global during the 3rd quarter worth about $193,000. Finally, Walleye Capital LLC acquired a new stake in shares of MRC Global during the 3rd quarter worth about $196,000. Institutional investors own 94.97% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on MRC. StockNews.com cut shares of MRC Global from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 9th. Susquehanna lifted their price target on MRC Global from $16.00 to $17.00 and gave the stock a "positive" rating in a report on Thursday, November 7th.
Check Out Our Latest Report on MRC
MRC Global Stock Performance
Shares of MRC stock traded up $0.36 on Monday, hitting $13.45. The company's stock had a trading volume of 756,337 shares, compared to its average volume of 687,645. MRC Global Inc. has a fifty-two week low of $11.09 and a fifty-two week high of $15.41. The company has a market capitalization of $1.15 billion, a PE ratio of 15.46 and a beta of 1.97. The stock's 50 day moving average is $13.57 and its 200-day moving average is $13.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99.
MRC Global declared that its Board of Directors has initiated a share buyback program on Friday, January 3rd that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 11% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.
MRC Global Company Profile
(
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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