Sei Investments Co. Reduces Stock Holdings in MRC Global Inc. (NYSE:MRC)

Sei Investments Co. lowered its stake in MRC Global Inc. (NYSE:MRC - Free Report) by 60.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,199 shares of the oil and gas company's stock after selling 100,646 shares during the quarter. Sei Investments Co. owned approximately 0.08% of MRC Global worth $846,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of MRC. Longboard Asset Management LP bought a new stake in MRC Global during the fourth quarter valued at $134,000. EP Wealth Advisors LLC purchased a new stake in shares of MRC Global during the third quarter valued at approximately $167,000. Ieq Capital LLC bought a new stake in MRC Global in the 4th quarter worth $187,000. Walleye Capital LLC bought a new stake in shares of MRC Global in the third quarter worth about $196,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of MRC Global in the 4th quarter worth approximately $233,000. 94.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on MRC shares. Susquehanna decreased their price objective on shares of MRC Global from $17.00 to $15.00 and set a "positive" rating for the company in a report on Monday, March 17th. StockNews.com downgraded shares of MRC Global from a "buy" rating to a "hold" rating in a research note on Monday, March 17th. Stifel Nicolaus lowered their price objective 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. Finally, Loop Capital reduced their target price on MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th.

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MRC Global Stock Up 1.9 %

Shares of MRC stock traded up $0.19 during mid-day trading on Friday, reaching $10.24. 501,999 shares of the company's stock traded hands, compared to its average volume of 627,906. The company's 50-day moving average price is $11.80 and its 200-day moving average price is $12.81. The company has a market cap of $881.15 million, a P/E ratio of 11.77 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. MRC Global Inc. has a 12 month low of $9.23 and a 12 month high of $15.41.

MRC Global (NYSE:MRC - Get Free Report) last posted its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. 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 previous year, the firm posted $0.23 earnings per share. MRC Global's quarterly revenue was down 10.3% on a year-over-year basis. On average, equities analysts expect that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

MRC Global declared that its Board of Directors has initiated a share buyback plan on Friday, January 3rd that authorizes the company to buyback $125.00 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 11% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

MRC Global Company 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.