Robertson Stephens Wealth Management LLC boosted its stake in MRC Global Inc. (NYSE:MRC - Free Report) by 74.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 85,635 shares of the oil and gas company's stock after acquiring an additional 36,521 shares during the quarter. Robertson Stephens Wealth Management LLC owned 0.10% of MRC Global worth $1,094,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in MRC. Longboard Asset Management LP acquired a new stake in MRC Global during the 4th quarter worth $134,000. MQS Management LLC acquired a new stake in MRC Global during the 3rd quarter worth $154,000. EP Wealth Advisors LLC acquired a new stake in MRC Global during the 3rd quarter worth $167,000. Intech Investment Management LLC acquired a new stake in MRC Global during the 3rd quarter worth $193,000. Finally, Walleye Capital LLC acquired a new stake in MRC Global during the 3rd quarter worth $196,000. Institutional investors and hedge funds own 94.97% of the company's stock.
MRC Global Trading Down 0.7 %
Shares of NYSE MRC traded down $0.10 during trading on Monday, hitting $12.70. 639,449 shares of the company were exchanged, compared to its average volume of 698,949. MRC Global Inc. has a 12-month low of $10.31 and a 12-month high of $15.41. 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 fifty day moving average price of $13.66 and a 200-day moving average price of $13.16. The firm has a market capitalization of $1.08 billion, a PE ratio of 14.59 and a beta of 1.97.
MRC Global declared that its board has approved a stock repurchase program on Friday, January 3rd that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 11% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.
Analysts Set New Price Targets
MRC has been the topic of several recent research reports. Susquehanna lifted their target price on shares of MRC Global from $16.00 to $17.00 and gave the stock a "positive" rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their target price on shares of MRC Global from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Finally, StockNews.com lowered MRC Global from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 9th.
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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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