Cerity Partners LLC Invests $328,000 in MRC Global Inc. (NYSE:MRC)

Cerity Partners LLC bought a new stake in MRC Global Inc. (NYSE:MRC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,666 shares of the oil and gas company’s stock, valued at approximately $328,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank bought a new stake in shares of MRC Global in the 4th quarter valued at $34,000. Meeder Asset Management Inc. bought a new stake in MRC Global during the fourth quarter valued at $56,000. Longboard Asset Management LP acquired a new stake in MRC Global during the 4th quarter worth about $134,000. Ieq Capital LLC bought a new position in shares of MRC Global in the 4th quarter worth about $187,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of MRC Global by 35.7% in 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. Institutional investors and hedge funds own 94.97% of the company’s stock.

MRC Global Price Performance

Shares of MRC opened at $11.17 on Thursday. The stock has a market cap of $961.55 million, a P/E ratio of 12.84 and a beta of 1.67. The business’s fifty day moving average is $11.39 and its 200 day moving average is $12.69. 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 12-month low of $9.23 and a 12-month high of $15.41.

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

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

Wall Street Analysts Forecast Growth

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