Raymond James Financial Inc. Buys New Position in MRC Global Inc. (NYSE:MRC)

Raymond James Financial Inc. purchased a new stake in MRC Global Inc. (NYSE:MRC) in the fourth quarter, Holdings Channel.com reports. The fund purchased 51,474 shares of the oil and gas company’s stock, valued at approximately $658,000.

Several other large investors have also bought and sold shares of the stock. Proficio Capital Partners LLC bought a new stake in shares of MRC Global in the 4th quarter worth $233,000. Shaker Investments LLC OH purchased a new position in MRC Global during the fourth quarter worth about $511,000. Barclays PLC grew its position in MRC Global by 197.7% in the 3rd quarter. Barclays PLC now owns 151,169 shares of the oil and gas company’s stock worth $1,927,000 after purchasing an additional 100,384 shares in the last quarter. JPMorgan Chase & Co. increased its stake in MRC Global by 12.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 156,332 shares of the oil and gas company’s stock valued at $1,992,000 after buying an additional 17,609 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of 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 worth $24,934,000 after buying an additional 32,760 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

MRC Global Stock Performance

NYSE:MRC opened at $9.80 on Monday. The company has a market capitalization of $843.61 million, a P/E ratio of 11.26 and a beta of 1.67. The business has a fifty day simple moving average of $12.48 and a two-hundred day simple moving average of $12.94. 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 1 year low of $9.42 and a 1 year high of $15.41.

MRC Global (NYSE:MRC) last announced 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 company 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%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. On average, analysts expect that MRC Global Inc. will post 0.86 earnings per share for the current year.

MRC Global announced that its Board of Directors has approved a share buyback plan on Friday, January 3rd that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 11% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.