MRC Global Inc. (NYSE:MRC) Shares Acquired by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC raised its stake in shares of MRC Global Inc. (NYSE:MRC) by 74.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 85,635 shares of the oil and gas company’s stock after buying an additional 36,521 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in MRC Global were worth $1,094,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Pzena Investment Management LLC increased its stake in MRC Global by 0.4% during the 3rd quarter. Pzena Investment Management LLC now owns 5,770,791 shares of the oil and gas company’s stock valued at $73,520,000 after buying an additional 20,407 shares during the period. Wellington Management Group LLP increased its stake in MRC Global by 1.8% during 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 buying an additional 55,553 shares during the period. Geode Capital Management LLC increased its stake in MRC Global by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,956,725 shares of the oil and gas company’s stock valued at $24,934,000 after buying an additional 32,760 shares during the period. State Street Corp increased its stake in MRC Global by 1.2% during the 3rd quarter. State Street Corp now owns 1,923,272 shares of the oil and gas company’s stock valued at $24,502,000 after buying an additional 23,125 shares during the period. Finally, Victory Capital Management Inc. increased its stake in MRC Global by 2.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,369,515 shares of the oil and gas company’s stock valued at $17,448,000 after buying an additional 26,619 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on MRC shares. StockNews.com cut shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 9th. Susquehanna raised their price objective on shares of MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus raised their price objective on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th.

MRC Global Stock Performance

NYSE:MRC opened at $13.38 on Friday. MRC Global Inc. has a twelve month low of $10.29 and a twelve month high of $15.41. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $13.68 and a 200-day moving average of $13.19. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 15.37 and a beta of 1.97.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company had revenue of $797.00 million during the quarter, compared to analyst estimates of $794.17 million. During the same quarter last year, the firm posted $0.32 EPS. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. Analysts forecast that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

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