Wellington Management Group LLP Reduces Holdings in MRC Global Inc. (NYSE:MRC)

Wellington Management Group LLP lessened its holdings in MRC Global Inc. (NYSE:MRC - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,946,806 shares of the oil and gas company's stock after selling 262,445 shares during the period. Wellington Management Group LLP owned about 3.46% of MRC Global worth $37,660,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its position in shares of MRC Global by 462.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 126,135 shares of the oil and gas company's stock valued at $1,612,000 after buying an additional 103,700 shares in the last quarter. Brandywine Global Investment Management LLC increased its holdings in MRC Global by 11.3% in the 4th quarter. Brandywine Global Investment Management LLC now owns 289,352 shares of the oil and gas company's stock worth $3,698,000 after acquiring an additional 29,394 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in MRC Global by 0.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,214,254 shares of the oil and gas company's stock worth $15,518,000 after acquiring an additional 7,001 shares during the period. Norges Bank purchased a new position in MRC Global during the fourth quarter valued at $4,555,000. Finally, Caisse Des Depots ET Consignations acquired a new stake in shares of MRC Global in the fourth quarter valued at about $817,000. Hedge funds and other institutional investors own 94.97% of the company's stock.

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MRC Global Price Performance

MRC traded up $0.19 on Friday, reaching $10.24. 501,999 shares of the company's stock were exchanged, compared to its average volume of 627,607. The stock has a market cap of $881.15 million, a PE ratio of 11.77 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11. MRC Global Inc. has a twelve month low of $9.23 and a twelve month high of $15.41. The stock's fifty day moving average price is $11.80 and its 200-day moving average price is $12.81.

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

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.

Wall Street Analysts Forecast Growth

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

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.