Cramer Rosenthal Mcglynn LLC Increases Position in MRC Global Inc. (NYSE:MRC)

Cramer Rosenthal Mcglynn LLC increased its stake in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 30.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 794,487 shares of the oil and gas company's stock after buying an additional 185,840 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned about 0.93% of MRC Global worth $10,154,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new position in shares of MRC Global in the fourth quarter worth about $233,000. Shaker Investments LLC OH purchased a new position in MRC Global during the 4th quarter worth approximately $511,000. Barclays PLC boosted its holdings in shares of MRC Global by 197.7% in the 3rd quarter. Barclays PLC now owns 151,169 shares of the oil and gas company's stock valued at $1,927,000 after acquiring an additional 100,384 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of MRC Global by 12.7% in the third quarter. JPMorgan Chase & Co. now owns 156,332 shares of the oil and gas company's stock worth $1,992,000 after acquiring an additional 17,609 shares during the period. Finally, Geode Capital Management LLC raised its holdings 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 worth $24,934,000 after purchasing an additional 32,760 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

MRC Global Price Performance

Shares of MRC stock traded up $0.25 during trading hours on Wednesday, hitting $11.14. 282,247 shares of the company's stock were exchanged, compared to its average volume of 631,246. The firm has a 50 day moving average of $11.43 and a two-hundred day moving average of $12.71. 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 cap of $958.96 million, a P/E ratio of 12.80 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 (NYSE:MRC - Get Free Report) last released its quarterly earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm had revenue of $736.80 million during the quarter, compared to the consensus estimate of $726.90 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The company's revenue for the quarter was down 10.3% on a year-over-year basis. Sell-side analysts forecast that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global announced that its Board of Directors has initiated a stock repurchase program on Friday, January 3rd that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 11% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership 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.