MRC Global Inc. (NYSE:MRC) Shares Bought by Foundry Partners LLC

Foundry Partners LLC grew its holdings in MRC Global Inc. (NYSE:MRC) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 354,395 shares of the oil and gas company’s stock after buying an additional 21,512 shares during the quarter. Foundry Partners LLC’s holdings in MRC Global were worth $4,529,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in MRC Global by 419.3% in the fourth quarter. JPMorgan Chase & Co. now owns 811,787 shares of the oil and gas company’s stock valued at $10,375,000 after acquiring an additional 655,455 shares during the period. Norges Bank purchased a new position in shares of MRC Global in the 4th quarter valued at about $4,555,000. American Century Companies Inc. increased its holdings in shares of MRC Global by 18.5% in the 4th quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company’s stock valued at $29,159,000 after purchasing an additional 356,372 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of MRC Global by 43.2% in the fourth quarter. Prudential Financial Inc. now owns 626,415 shares of the oil and gas company’s stock valued at $8,006,000 after purchasing an additional 188,863 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in MRC Global by 98.7% during the fourth quarter. Teacher Retirement System of Texas now owns 242,735 shares of the oil and gas company’s stock worth $3,102,000 after buying an additional 120,588 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on MRC. Stifel Nicolaus dropped their target price on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, March 17th. Susquehanna dropped their price objective on MRC Global from $17.00 to $15.00 and set a “positive” rating for the company in a research note on Monday, March 17th. Loop Capital decreased their target price on MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Finally, StockNews.com cut MRC Global from a “buy” rating to a “hold” rating in a research report on Monday, March 17th.

MRC Global Stock Down 7.2 %

MRC stock opened at $9.80 on Friday. 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 12 month low of $9.42 and a 12 month high of $15.41. The firm has a market capitalization of $843.61 million, a PE ratio of 11.26 and a beta of 1.96. The company’s 50 day simple moving average is $12.48 and its 200-day simple moving average is $12.93.

MRC Global (NYSE:MRC) last released its quarterly 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 company had revenue of $736.80 million during the quarter, compared to the consensus estimate of $726.90 million. During the same quarter last year, the business posted $0.23 earnings per share. MRC Global’s revenue was down 10.3% compared to the same quarter last year. Equities analysts expect that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

MRC Global declared that its board has initiated a share buyback plan on Friday, January 3rd that permits the company to repurchase $125.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 11% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management 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.