Martingale Asset Management L P Purchases 41,336 Shares of MRC Global Inc. (NYSE:MRC)

Martingale Asset Management L P increased its position in MRC Global Inc. (NYSE:MRC - Free Report) by 26.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 194,953 shares of the oil and gas company's stock after buying an additional 41,336 shares during the quarter. Martingale Asset Management L P owned 0.23% of MRC Global worth $2,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in MRC. Huntington National Bank acquired a new stake in MRC Global in the fourth quarter valued at $34,000. Meeder Asset Management Inc. purchased a new stake in shares of MRC Global during the 4th quarter worth approximately $56,000. Longboard Asset Management LP purchased a new stake in MRC Global in the 4th quarter worth about $134,000. EP Wealth Advisors LLC purchased a new stake in shares of MRC Global during the 3rd quarter valued at approximately $167,000. Finally, Ieq Capital LLC purchased a new stake in MRC Global during the 4th quarter worth about $187,000. 94.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on MRC shares. StockNews.com cut MRC Global from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Susquehanna lowered their target price on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating on the stock in a research note on Monday. Loop Capital dropped their target price on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus lowered their price objective on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, March 17th.

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MRC Global Trading Up 0.3 %

Shares of MRC traded up $0.04 during mid-day trading on Tuesday, reaching $10.23. The company's stock had a trading volume of 312,900 shares, compared to its average volume of 626,940. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. MRC Global Inc. has a 52 week low of $9.23 and a 52 week high of $15.41. The company's fifty day moving average price is $11.72 and its two-hundred day moving average price is $12.79. 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 issued its earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The company had revenue of $736.80 million during the quarter, compared to analysts' expectations of $726.90 million. During the same period in the prior year, the business posted $0.23 EPS. MRC Global's quarterly revenue was down 10.3% compared to the same quarter last year. On average, analysts predict that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

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

About MRC Global

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.