Martingale Asset Management L P Acquires 41,336 Shares of MRC Global Inc. (NYSE:MRC)

Martingale Asset Management L P lifted its stake in MRC Global Inc. (NYSE:MRC - Free Report) by 26.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 194,953 shares of the oil and gas company's stock after purchasing an additional 41,336 shares during the period. Martingale Asset Management L P owned 0.23% of MRC Global worth $2,492,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Swiss National Bank increased its holdings in MRC Global by 0.9% in the fourth quarter. Swiss National Bank now owns 167,649 shares of the oil and gas company's stock valued at $2,143,000 after buying an additional 1,500 shares in the last quarter. Federated Hermes Inc. lifted its stake in MRC Global by 2.0% in the fourth quarter. Federated Hermes Inc. now owns 104,601 shares of the oil and gas company's stock valued at $1,337,000 after buying an additional 2,003 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of MRC Global by 7.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 33,422 shares of the oil and gas company's stock worth $427,000 after acquiring an additional 2,219 shares during the period. Huntington National Bank acquired a new position in MRC Global during the fourth quarter worth $34,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of MRC Global by 35.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 14,657 shares of the oil and gas company's stock worth $187,000 after buying an additional 3,855 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

MRC Global Price Performance

Shares of NYSE MRC traded down $0.02 during midday trading on Wednesday, reaching $10.21. 117,373 shares of the stock traded hands, compared to its average volume of 625,347. The stock has a market capitalization of $878.91 million, a PE ratio of 11.74 and a beta of 1.67. MRC Global Inc. has a one year low of $9.23 and a one year high of $15.41. The company's 50 day moving average is $11.66 and its 200 day moving average is $12.77. 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 (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, 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 for the quarter, compared to analyst estimates of $726.90 million. During the same quarter last year, the firm posted $0.23 EPS. The firm's revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities research analysts anticipate 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 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 purchase up to 11% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MRC shares. Loop Capital reduced their price objective on MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Stifel Nicolaus lowered their price target on MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Susquehanna lowered their target price on MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a research note on Monday. Finally, StockNews.com lowered MRC Global from a "buy" rating to a "hold" rating in a research report on Monday, March 17th.

MRC Global Company 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.