MRC Global Inc. (NYSE:MRC) Stock Position Raised by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in MRC Global Inc. (NYSE:MRC - Free Report) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,390,014 shares of the oil and gas company's stock after purchasing an additional 42,331 shares during the quarter. Vanguard Group Inc. owned about 11.02% of MRC Global worth $120,004,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Longboard Asset Management LP acquired a new stake in shares of MRC Global in the fourth quarter valued at about $134,000. EP Wealth Advisors LLC acquired a new position in MRC Global during the 3rd quarter worth approximately $167,000. Ieq Capital LLC purchased a new position in MRC Global in the 4th quarter worth approximately $187,000. Walleye Capital LLC acquired a new stake in MRC Global in the third quarter valued at approximately $196,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of MRC Global during the fourth quarter valued at approximately $206,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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MRC Global Stock Up 1.9 %

Shares of MRC Global stock traded up $0.19 during trading on Friday, reaching $10.24. The company had a trading volume of 501,999 shares, compared to its average volume of 627,906. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. MRC Global Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $15.41. The firm's fifty day moving average is $11.80 and its 200-day moving average is $12.81. The company has a market cap of $881.15 million, a price-to-earnings ratio of 11.77 and a beta of 1.67.

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

MRC Global declared that its Board of Directors has initiated a stock buyback program on Friday, January 3rd that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 11% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is 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.