Shaker Investments LLC OH Purchases New Holdings in MRC Global Inc. (NYSE:MRC)

Shaker Investments LLC OH purchased a new position in MRC Global Inc. (NYSE:MRC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 39,961 shares of the oil and gas company's stock, valued at approximately $511,000.

Several other large investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in shares of MRC Global by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 32,061 shares of the oil and gas company's stock valued at $414,000 after buying an additional 1,289 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in MRC Global by 20.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,575 shares of the oil and gas company's stock valued at $198,000 after purchasing an additional 2,639 shares during the last quarter. Victory Capital Management Inc. increased its holdings in MRC Global by 2.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,369,515 shares of the oil and gas company's stock worth $17,448,000 after purchasing an additional 26,619 shares in the last quarter. MQS Management LLC purchased a new stake in shares of MRC Global in the third quarter worth approximately $154,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of MRC Global in the third quarter valued at approximately $329,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

MRC Global Price Performance

Shares of MRC Global stock traded up $0.35 on Friday, hitting $13.44. 397,407 shares of the company traded hands, compared to its average volume of 747,578. MRC Global Inc. has a 12-month low of $11.09 and a 12-month high of $15.41. 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 company has a market cap of $1.15 billion, a P/E ratio of 15.45 and a beta of 1.97. The firm's 50-day simple moving average is $13.57 and its 200 day simple moving average is $13.13.

MRC Global announced that its board has authorized a share repurchase 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 shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts recently commented on the company. Susquehanna lifted their price target on MRC Global from $16.00 to $17.00 and gave the stock a "positive" rating in a report on Thursday, November 7th. StockNews.com downgraded shares of MRC Global from a "strong-buy" rating to a "buy" rating in a research report on Saturday, November 9th.

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.