Pzena Investment Management LLC increased its position in MRC Global Inc. (NYSE:MRC - Free Report) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,825,650 shares of the oil and gas company's stock after buying an additional 54,859 shares during the period. Pzena Investment Management LLC owned 6.83% of MRC Global worth $74,452,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRC. Longboard Asset Management LP acquired a new position in shares of MRC Global during the 4th quarter worth $134,000. MQS Management LLC bought a new stake in MRC Global in the third quarter worth $154,000. EP Wealth Advisors LLC acquired a new position in MRC Global during the third quarter worth $167,000. Ieq Capital LLC acquired a new position in MRC Global during the fourth quarter worth $187,000. Finally, Intech Investment Management LLC bought a new position in MRC Global during the third quarter valued at about $193,000. Institutional investors own 94.97% of the company's stock.
MRC Global Stock Down 1.4 %
Shares of MRC traded down $0.16 during trading hours on Thursday, hitting $11.08. 554,094 shares of the company were exchanged, compared to its average volume of 560,641. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. The company has a market cap of $944.07 million, a PE ratio of 12.73 and a beta of 1.96. The firm's 50 day moving average is $13.23 and its 200-day moving average is $13.03. MRC Global Inc. has a 52 week low of $10.93 and a 52 week high of $15.41.
MRC Global announced that its board has initiated a stock buyback program 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 repurchase up to 11% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.
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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