Charles Schwab Investment Management Inc. Sells 162,102 Shares of MRC Global Inc. (NYSE:MRC)

Charles Schwab Investment Management Inc. trimmed its holdings in MRC Global Inc. (NYSE:MRC) by 13.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,036,062 shares of the oil and gas company’s stock after selling 162,102 shares during the period. Charles Schwab Investment Management Inc.’s holdings in MRC Global were worth $13,241,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in MRC Global in the 4th quarter valued at about $233,000. Shaker Investments LLC OH acquired a new position in shares of MRC Global in the fourth quarter valued at approximately $511,000. Barclays PLC grew its position in shares of MRC Global by 197.7% in the third quarter. Barclays PLC now owns 151,169 shares of the oil and gas company’s stock valued at $1,927,000 after purchasing an additional 100,384 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of MRC Global by 12.7% in the third quarter. JPMorgan Chase & Co. now owns 156,332 shares of the oil and gas company’s stock valued at $1,992,000 after purchasing an additional 17,609 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of MRC Global by 1.7% in the third 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 purchasing an additional 32,760 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

MRC Global Price Performance

MRC Global stock opened at $11.95 on Friday. The firm has a market cap of $1.02 billion, a P/E ratio of 13.73 and a beta of 1.96. MRC Global Inc. has a one year low of $9.42 and a one year high of $15.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11. The stock’s 50 day moving average is $13.06 and its 200 day moving average is $12.97.

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

MRC Global announced that its board has approved a stock buyback plan 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 reacquire up to 11% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently commented on MRC. StockNews.com downgraded shares of MRC Global from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. Loop Capital decreased their target price on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday. Susquehanna decreased their target price 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, Stifel Nicolaus reduced their price target on MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, March 17th.

About MRC Global

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.