Prudential Financial Inc. Buys 188,863 Shares of MRC Global Inc. (NYSE:MRC)

Prudential Financial Inc. increased its holdings in MRC Global Inc. (NYSE:MRC - Free Report) by 43.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 626,415 shares of the oil and gas company's stock after acquiring an additional 188,863 shares during the period. Prudential Financial Inc. owned about 0.73% of MRC Global worth $8,006,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Longboard Asset Management LP acquired a new position in shares of MRC Global in the 4th quarter valued at about $134,000. EP Wealth Advisors LLC acquired a new position in MRC Global in the 3rd quarter valued at approximately $167,000. Ieq Capital LLC purchased a new stake in MRC Global in the 4th quarter worth approximately $187,000. Intech Investment Management LLC purchased a new stake in MRC Global in the 3rd quarter worth approximately $193,000. Finally, Walleye Capital LLC acquired a new stake in shares of MRC Global during the 3rd quarter valued at $196,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

MRC Global Stock Up 0.4 %

MRC Global stock traded up $0.05 during mid-day trading on Wednesday, hitting $11.67. 236,472 shares of the company's stock were exchanged, compared to its average volume of 617,871. MRC Global Inc. has a 1-year low of $9.42 and a 1-year high of $15.41. The stock has a 50 day moving average of $12.74 and a two-hundred day moving average of $12.97. 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 stock has a market cap of $1.00 billion, a P/E ratio of 13.41 and a beta of 1.96.

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MRC Global (NYSE:MRC - Get Free Report) last issued its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 EPS for the quarter, meeting analysts' consensus estimates 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 analyst estimates of $726.90 million. During the same quarter in the prior year, the firm posted $0.23 EPS. The firm's revenue for the quarter was down 10.3% on a year-over-year basis. As a group, analysts anticipate that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

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.

Analyst Upgrades and Downgrades

MRC has been the subject of several recent research reports. StockNews.com lowered MRC Global from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Susquehanna cut their price target on MRC Global from $17.00 to $15.00 and set a "positive" rating for the company in a research note on Monday, March 17th. Stifel Nicolaus reduced their price target on MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a report on Monday, March 17th. Finally, Loop Capital dropped their price objective on MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th.

MRC Global Profile

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.