O Shaughnessy Asset Management LLC Purchases 103,700 Shares of MRC Global Inc. (NYSE:MRC)

O Shaughnessy Asset Management LLC lifted its position in MRC Global Inc. (NYSE:MRC) by 462.2% in the 4th quarter, Holdings Channel reports. The fund owned 126,135 shares of the oil and gas company’s stock after acquiring an additional 103,700 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in MRC Global were worth $1,612,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MRC. Longboard Asset Management LP purchased a new stake in shares of MRC Global in the 4th quarter worth about $134,000. EP Wealth Advisors LLC purchased a new stake in MRC Global in the third quarter worth about $167,000. Ieq Capital LLC bought a new position in shares of MRC Global during the fourth quarter valued at approximately $187,000. Intech Investment Management LLC purchased a new position in shares of MRC Global during the third quarter valued at approximately $193,000. Finally, Walleye Capital LLC bought a new stake in shares of MRC Global in the 3rd quarter worth approximately $196,000. 94.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Loop Capital reduced their price objective on MRC Global from $18.00 to $17.00 and set a “buy” rating for the company in a research 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 for the company in a research report on Monday, March 17th. Susquehanna cut their price objective on shares of 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 lowered shares of MRC Global from a “buy” rating to a “hold” rating in a research note on Monday, March 17th.

MRC Global Stock Down 7.2 %

MRC Global stock opened at $9.80 on Friday. The firm has a market cap of $843.61 million, a price-to-earnings ratio of 11.26 and a beta of 1.96. 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 12 month low of $9.42 and a 12 month high of $15.41. The stock has a fifty day simple moving average of $12.48 and a two-hundred day simple moving average of $12.93.

MRC Global (NYSE:MRC) last issued its earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $736.80 million during the quarter, compared to analyst estimates of $726.90 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. MRC Global’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 EPS. Equities analysts predict that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

MRC Global announced that its Board of Directors has authorized 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 purchase up to 11% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are 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.