Jump Financial LLC Decreases Stock Holdings in MRC Global Inc. (NYSE:MRC)

Jump Financial LLC lessened its stake in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 54.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,100 shares of the oil and gas company's stock after selling 32,300 shares during the quarter. Jump Financial LLC's holdings in MRC Global were worth $346,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MRC. Barclays PLC grew its stake in MRC Global by 218.0% during the fourth quarter. Barclays PLC now owns 480,669 shares of the oil and gas company's stock valued at $6,143,000 after acquiring an additional 329,500 shares in the last quarter. Optimize Financial Inc purchased a new position in shares of MRC Global during the 4th quarter valued at $219,000. Sterling Capital Management LLC increased its holdings in shares of MRC Global by 821.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company's stock worth $34,000 after purchasing an additional 2,406 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of MRC Global in the fourth quarter worth $658,000. Finally, Martingale Asset Management L P boosted its stake in MRC Global by 26.9% during the fourth quarter. Martingale Asset Management L P now owns 194,953 shares of the oil and gas company's stock valued at $2,492,000 after buying an additional 41,336 shares during the period. Hedge funds and other institutional investors own 94.97% of the company's stock.

MRC Global Price Performance

NYSE:MRC traded up $0.07 during mid-day trading on Thursday, reaching $11.72. The stock had a trading volume of 56,947 shares, compared to its average volume of 636,243. The stock has a market capitalization of $1.01 billion, a P/E ratio of 13.50 and a beta of 1.67. The firm has a 50 day moving average price of $11.27 and a two-hundred day moving average price of $12.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. MRC Global Inc. has a one year low of $9.23 and a one year high of $15.41.

MRC Global (NYSE:MRC - Get Free Report) last announced its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, hitting analysts' consensus estimates 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 analyst estimates of $726.90 million. During the same period in the previous year, the business posted $0.23 EPS. The business's quarterly revenue was down 10.3% on a year-over-year basis. As a group, analysts expect that MRC Global Inc. will post 0.86 earnings per share for the current year.

MRC Global announced that its Board of Directors has authorized a stock repurchase plan on Friday, January 3rd that authorizes the company to buyback $125.00 million in shares. This buyback authorization authorizes the oil and gas company to purchase 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.

Analyst Ratings Changes

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