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

Cerity Partners LLC bought a new position in MRC Global Inc. (NYSE:MRC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,666 shares of the oil and gas company's stock, valued at approximately $328,000.

Several other hedge funds also recently added to or reduced their stakes in MRC. Barclays PLC raised 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 purchasing an additional 100,384 shares during the period. Geode Capital Management LLC grew its stake in shares of MRC Global by 1.7% during the third 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 acquiring an additional 32,760 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of MRC Global by 12.7% during the third quarter. JPMorgan Chase & Co. now owns 156,332 shares of the oil and gas company's stock valued at $1,992,000 after acquiring an additional 17,609 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of MRC Global during the fourth quarter valued at about $477,000. Finally, Jennison Associates LLC acquired a new stake in shares of MRC Global during the fourth quarter valued at about $1,108,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com downgraded MRC Global from a "buy" rating to a "hold" rating in a research note on Monday, March 17th. Loop Capital decreased their price target on MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Susquehanna decreased their price target 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. Finally, Stifel Nicolaus decreased their price target on MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Monday, March 17th.

MRC Global Stock Performance

MRC stock traded down $0.10 during midday trading on Tuesday, reaching $11.64. The company had a trading volume of 12,161 shares, compared to its average volume of 633,874. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $11.31 and a 200 day moving average price of $12.67. MRC Global Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $15.41. The firm has a market capitalization of $1.00 billion, a PE ratio of 13.35 and a beta of 1.67.

MRC Global (NYSE:MRC - Get Free Report) last issued its earnings results on Friday, March 14th. The oil and gas company reported $0.08 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 company had revenue of $736.80 million during the quarter, compared to the consensus estimate of $726.90 million. During the same period in the previous year, the firm posted $0.23 earnings per share. MRC Global's quarterly revenue was down 10.3% compared to the same quarter last year. Analysts anticipate that MRC Global Inc. will post 0.86 earnings per share for the current year.

MRC Global declared that its board has initiated a stock buyback program on Friday, January 3rd that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the oil and gas company to buy up to 11% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

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.