Norges Bank Purchases Shares of 356,400 MRC Global Inc. (NYSE:MRC)

Norges Bank acquired a new stake in MRC Global Inc. (NYSE:MRC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 356,400 shares of the oil and gas company's stock, valued at approximately $4,555,000. Norges Bank owned about 0.42% of MRC Global as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of MRC Global by 419.3% during the 4th quarter. JPMorgan Chase & Co. now owns 811,787 shares of the oil and gas company's stock valued at $10,375,000 after acquiring an additional 655,455 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of MRC Global by 18.5% during the fourth quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company's stock worth $29,159,000 after purchasing an additional 356,372 shares during the period. Prudential Financial Inc. lifted its position in shares of MRC Global by 43.2% in the 4th quarter. Prudential Financial Inc. now owns 626,415 shares of the oil and gas company's stock worth $8,006,000 after buying an additional 188,863 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of MRC Global by 98.7% in the 4th quarter. Teacher Retirement System of Texas now owns 242,735 shares of the oil and gas company's stock valued at $3,102,000 after buying an additional 120,588 shares during the period. Finally, Barclays PLC grew its position in shares of MRC Global by 197.7% during the 3rd quarter. Barclays PLC now owns 151,169 shares of the oil and gas company's stock valued at $1,927,000 after buying an additional 100,384 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

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MRC Global Stock Up 0.3 %

Shares of MRC stock traded up $0.03 during trading on Tuesday, hitting $10.22. 50,824 shares of the company were exchanged, compared to its average volume of 767,998. The firm has a market capitalization of $879.68 million, a price-to-earnings ratio of 11.74 and a beta of 1.67. 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 business's 50-day simple moving average is $11.72 and its 200 day simple moving average is $12.79. MRC Global Inc. has a twelve month low of $9.23 and a twelve month high of $15.41.

MRC Global (NYSE:MRC - Get Free Report) last issued its earnings results on Friday, March 14th. The oil and gas company reported $0.08 EPS for the quarter, meeting analysts' consensus estimates of $0.08. The firm had revenue of $736.80 million for the quarter, compared to the consensus estimate of $726.90 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business's quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 earnings per share. As a group, analysts forecast that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

MRC Global declared that its Board of Directors has authorized a share buyback plan on Friday, January 3rd that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 11% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

MRC has been the subject of several analyst reports. Stifel Nicolaus reduced their price target on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a report on Monday, March 17th. StockNews.com lowered shares of MRC Global from a "buy" rating to a "hold" rating in a research note on Monday, March 17th. Loop Capital dropped their price target on shares of 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, Susquehanna reduced their price objective on MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a research report on Monday.

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.