Shaker Investments LLC OH Takes Position in MRC Global Inc. (NYSE:MRC)

Shaker Investments LLC OH acquired a new position in shares of MRC Global Inc. (NYSE:MRC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 39,961 shares of the oil and gas company’s stock, valued at approximately $511,000.

Other institutional investors and hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in MRC Global by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,061 shares of the oil and gas company’s stock valued at $414,000 after purchasing an additional 1,289 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of MRC Global by 20.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 15,575 shares of the oil and gas company’s stock valued at $198,000 after purchasing an additional 2,639 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of MRC Global by 2.0% in the third quarter. Victory Capital Management Inc. now owns 1,369,515 shares of the oil and gas company’s stock valued at $17,448,000 after purchasing an additional 26,619 shares during the last quarter. MQS Management LLC purchased a new position in MRC Global during the third quarter worth approximately $154,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in MRC Global during the third quarter worth $329,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

MRC Global Price Performance

Shares of MRC opened at $12.69 on Tuesday. The firm has a 50-day simple moving average of $13.63 and a two-hundred day simple moving average of $13.15. 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 $10.31 and a 1-year high of $15.41. The stock has a market cap of $1.08 billion, a PE ratio of 14.59 and a beta of 1.97.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MRC. StockNews.com downgraded MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 9th. Stifel Nicolaus boosted their target price on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Susquehanna raised their price target on shares of MRC Global from $16.00 to $17.00 and gave the stock a “positive” rating in a report on Thursday, November 7th.

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.