Trexquant Investment LP Decreases Stake in MRC Global Inc. (NYSE:MRC)

Trexquant Investment LP lessened its holdings in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 51.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,866 shares of the oil and gas company's stock after selling 111,652 shares during the period. Trexquant Investment LP owned about 0.12% of MRC Global worth $1,353,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MRC. Meeder Asset Management Inc. bought a new position in shares of MRC Global in the fourth quarter worth about $56,000. Longboard Asset Management LP purchased a new stake in MRC Global in the 4th quarter valued at about $134,000. EP Wealth Advisors LLC bought a new position in MRC Global in the 3rd quarter worth about $167,000. Ieq Capital LLC purchased a new position in shares of MRC Global during the fourth quarter worth approximately $187,000. Finally, Walleye Capital LLC bought a new stake in shares of MRC Global during the third quarter valued at approximately $196,000. Institutional investors own 94.97% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on MRC shares. Susquehanna reduced their price objective on MRC Global from $15.00 to $13.00 and set a "positive" rating on the stock in a report on Monday. Stifel Nicolaus cut their price target on MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Loop Capital dropped their target price on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Finally, StockNews.com downgraded shares of MRC Global from a "buy" rating to a "hold" rating in a research report on Monday, March 17th.

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MRC Global Stock Up 0.5 %

Shares of NYSE:MRC traded up $0.06 on Tuesday, reaching $10.25. The company had a trading volume of 66,866 shares, compared to its average volume of 625,131. The firm has a market capitalization of $881.92 million, a PE ratio of 11.77 and a beta of 1.67. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. MRC Global Inc. has a 52-week low of $9.23 and a 52-week high of $15.41. The firm's 50 day simple moving average is $11.72 and its 200-day simple moving average is $12.79.

MRC Global (NYSE:MRC - Get Free Report) last announced its earnings results on Friday, March 14th. The oil and gas company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $726.90 million. During the same period in the previous year, the company posted $0.23 earnings per share. The firm's revenue was down 10.3% on a year-over-year basis. As a group, analysts expect that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

MRC Global announced that its Board of Directors has authorized a stock repurchase program on Friday, January 3rd that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the oil and gas company to reacquire up to 11% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

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.