Barclays PLC lifted its holdings in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 218.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 480,669 shares of the oil and gas company's stock after purchasing an additional 329,500 shares during the quarter. Barclays PLC owned 0.56% of MRC Global worth $6,143,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MRC. Huntington National Bank acquired a new position in MRC Global in the 4th quarter valued at $34,000. Sterling Capital Management LLC raised its stake in MRC Global by 821.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 2,406 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in MRC Global during the fourth quarter worth about $56,000. Longboard Asset Management LP bought a new stake in MRC Global during the fourth quarter worth about $134,000. Finally, Ieq Capital LLC acquired a new stake in MRC Global during the fourth quarter worth about $187,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.
MRC Global Price Performance
Shares of NYSE:MRC remained flat at $11.73 during trading on Tuesday. 449,034 shares of the stock traded hands, compared to its average volume of 635,580. MRC Global Inc. has a 52 week low of $9.23 and a 52 week high of $15.41. The firm has a market cap of $1.01 billion, a P/E ratio of 13.48 and a beta of 1.67. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $11.31 and a 200 day simple moving average of $12.67.
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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.08. The business had revenue of $736.80 million during the quarter, compared to analysts' expectations of $726.90 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 EPS. As a group, sell-side analysts anticipate that MRC Global Inc. will post 0.86 earnings per share for the current year.
MRC Global declared that its Board of Directors has initiated a stock buyback plan on Friday, January 3rd that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the oil and gas company to purchase up to 11% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.
Analysts Set New Price Targets
MRC has been the topic of several analyst reports. StockNews.com lowered shares of MRC Global from a "buy" rating to a "hold" rating in a research report on Monday, March 17th. Susquehanna reduced their target price on MRC Global from $15.00 to $13.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Loop Capital decreased their price target on MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Finally, Stifel Nicolaus dropped their price objective on MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, March 17th.
Get Our Latest Stock Report on MRC
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.
Read More
Before you consider MRC Global, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MRC Global wasn't on the list.
While MRC Global currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
