MRC Global Inc. (NYSE:MRC) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. raised its position in MRC Global Inc. (NYSE:MRC) by 43.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 626,415 shares of the oil and gas company’s stock after purchasing an additional 188,863 shares during the quarter. Prudential Financial Inc. owned about 0.73% of MRC Global worth $8,006,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MRC. Proficio Capital Partners LLC acquired a new position in MRC Global in the fourth quarter valued at approximately $233,000. Shaker Investments LLC OH acquired a new position in shares of MRC Global in the 4th quarter valued at $511,000. Barclays PLC grew its holdings in shares of MRC Global by 197.7% during 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 during the period. JPMorgan Chase & Co. increased its position in shares of MRC Global by 12.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 156,332 shares of the oil and gas company’s stock worth $1,992,000 after purchasing an additional 17,609 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in MRC Global by 1.7% in 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. Hedge funds and other institutional investors own 94.97% of the company’s stock.

MRC Global Trading Down 2.2 %

NYSE MRC opened at $11.66 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 13.41 and a beta of 1.96. The firm has a 50 day simple moving average of $12.86 and a 200-day simple moving average of $12.97. MRC Global Inc. has a one year low of $9.42 and a one year high of $15.41.

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

MRC Global announced that its board has initiated a share repurchase plan on Friday, January 3rd that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 11% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MRC shares. Loop Capital dropped their price target on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. StockNews.com downgraded shares of MRC Global from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Stifel Nicolaus decreased their price target on MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Finally, Susquehanna dropped their price objective on MRC Global from $17.00 to $15.00 and set a “positive” rating for the company in a research note on Monday, March 17th.

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.