Russell Investments Group Ltd. Sells 22,247 Shares of MRC Global Inc. (NYSE:MRC)

Russell Investments Group Ltd. trimmed its position in shares of MRC Global Inc. (NYSE:MRC) by 5.4% during the 4th quarter, Holdings Channel reports. The firm owned 387,010 shares of the oil and gas company’s stock after selling 22,247 shares during the period. Russell Investments Group Ltd.’s holdings in MRC Global were worth $4,946,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Swiss National Bank increased its stake in MRC Global by 0.9% in the 4th quarter. Swiss National Bank now owns 167,649 shares of the oil and gas company’s stock worth $2,143,000 after buying an additional 1,500 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of MRC Global by 7.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 33,422 shares of the oil and gas company’s stock worth $427,000 after acquiring an additional 2,219 shares during the period. Huntington National Bank purchased a new stake in shares of MRC Global during the fourth quarter worth about $34,000. Envestnet Asset Management Inc. raised its stake in MRC Global by 35.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 14,657 shares of the oil and gas company’s stock valued at $187,000 after purchasing an additional 3,855 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in MRC Global in the 4th quarter worth approximately $56,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on MRC. Susquehanna lowered their target price on shares of MRC Global from $15.00 to $13.00 and set a “positive” rating on the stock in a report on Monday. Loop Capital decreased their price target on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Stifel Nicolaus dropped their price objective 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. Finally, StockNews.com cut MRC Global from a “buy” rating to a “hold” rating in a report on Monday, March 17th.

MRC Global Trading Down 0.3 %

Shares of MRC opened at $10.23 on Tuesday. The stock has a market capitalization of $880.63 million, a PE ratio of 11.76 and a beta of 1.67. The company’s fifty day moving average is $11.72 and its 200 day moving average is $12.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. MRC Global Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $15.41.

MRC Global (NYSE:MRC) last posted 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 firm had revenue of $736.80 million for the quarter, compared to the consensus estimate of $726.90 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. Sell-side analysts expect that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

MRC Global announced that its Board of Directors has initiated a share repurchase plan on Friday, January 3rd that authorizes the company to buyback $125.00 million in outstanding 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 usually an indication that the company’s board of directors believes its stock is 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.