Premier Fund Managers Ltd Has $85,000 Position in MRC Global Inc. (NYSE:MRC)

Premier Fund Managers Ltd decreased its stake in MRC Global Inc. (NYSE:MRC) by 77.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,741 shares of the oil and gas company’s stock after selling 23,482 shares during the period. Premier Fund Managers Ltd’s holdings in MRC Global were worth $85,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MRC. Vanguard Group Inc. boosted its holdings in MRC Global by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 9,390,014 shares of the oil and gas company’s stock valued at $120,004,000 after acquiring an additional 42,331 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of MRC Global by 1.0% in the 4th quarter. Pzena Investment Management LLC now owns 5,825,650 shares of the oil and gas company’s stock worth $74,452,000 after purchasing an additional 54,859 shares during the period. Wellington Management Group LLP boosted its stake in shares of MRC Global by 1.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,209,251 shares of the oil and gas company’s stock valued at $40,886,000 after purchasing an additional 55,553 shares during the last quarter. American Century Companies Inc. increased its position in shares of MRC Global by 18.5% during the fourth quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company’s stock worth $29,159,000 after buying an additional 356,372 shares during the period. Finally, Geode Capital Management LLC raised its stake in MRC Global by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,956,725 shares of the oil and gas company’s stock worth $24,934,000 after buying an additional 32,760 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

MRC Global Price Performance

Shares of NYSE:MRC opened at $11.66 on Friday. MRC Global Inc. has a twelve month low of $9.42 and a twelve month high of $15.41. The stock’s 50 day moving average is $12.86 and its 200-day moving average is $12.96. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 13.41 and a beta of 1.96.

MRC Global (NYSE:MRC) last released its quarterly earnings data 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. The firm had revenue of $736.80 million for the quarter, compared to the consensus estimate of $726.90 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The business’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. Sell-side analysts forecast that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

MRC Global declared that its board has initiated 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 buy up to 11% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on MRC shares. Susquehanna decreased their price target on 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 lowered shares of MRC Global from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. Stifel Nicolaus cut their target price on shares of 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, Loop Capital decreased their price target 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.

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.