MRC Global Inc. (NYSE:MRC) Shares Sold by LPL Financial LLC

LPL Financial LLC lowered its position in shares of MRC Global Inc. (NYSE:MRC) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,404 shares of the oil and gas company’s stock after selling 1,031 shares during the period. LPL Financial LLC owned approximately 0.09% of MRC Global worth $1,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MRC. American Century Companies Inc. raised its position in MRC Global by 18.5% in the fourth quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company’s stock valued at $29,159,000 after purchasing an additional 356,372 shares during the period. Teacher Retirement System of Texas raised its holdings in MRC Global by 98.7% in the 4th quarter. Teacher Retirement System of Texas now owns 242,735 shares of the oil and gas company’s stock valued at $3,102,000 after buying an additional 120,588 shares during the period. Barclays PLC lifted its position in 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 buying an additional 100,384 shares during the last quarter. Empowered Funds LLC boosted its stake in MRC Global by 32.8% during the fourth quarter. Empowered Funds LLC now owns 376,014 shares of the oil and gas company’s stock worth $4,805,000 after buying an additional 92,874 shares during the period. Finally, Jennison Associates LLC purchased a new stake in shares of MRC Global in the 4th quarter valued at approximately $1,108,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

MRC Global Price Performance

MRC Global stock opened at $10.87 on Monday. The company’s 50 day moving average is $11.52 and its two-hundred day moving average is $12.73. The firm has a market cap of $935.29 million, a PE ratio of 12.49 and a beta of 1.67. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. MRC Global Inc. has a 52-week low of $9.23 and a 52-week high of $15.41.

MRC Global (NYSE:MRC) last released its earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $726.90 million. During the same period last year, the business posted $0.23 earnings per share. MRC Global’s revenue was down 10.3% compared to the same quarter last year. On average, research analysts expect that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

MRC Global announced that its Board of Directors has authorized a stock buyback plan on Friday, January 3rd that permits the company to repurchase $125.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 11% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MRC. StockNews.com cut shares of MRC Global from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Susquehanna dropped their price objective on MRC Global from $15.00 to $13.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Loop Capital cut their price objective on MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, Stifel Nicolaus lowered their target price on MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, March 17th.

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.