Barclays PLC Raises Stock Holdings in MRC Global Inc. (NYSE:MRC)

Barclays PLC boosted its position in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 218.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 480,669 shares of the oil and gas company's stock after acquiring an additional 329,500 shares during the period. Barclays PLC owned 0.56% of MRC Global worth $6,143,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank purchased a new position in shares of MRC Global during the 4th quarter valued at about $34,000. Sterling Capital Management LLC boosted its stake in shares of MRC Global by 821.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 2,406 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in MRC Global in the 4th quarter worth $56,000. Longboard Asset Management LP purchased a new stake in MRC Global during the fourth quarter valued at about $134,000. Finally, Ieq Capital LLC bought a new position in shares of MRC Global during the fourth quarter valued at about $187,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MRC has been the topic of a number of analyst reports. Loop Capital decreased their price target 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 decreased their price objective on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Susquehanna dropped their target price on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a report on Monday, April 14th. Finally, StockNews.com downgraded MRC Global from a "buy" rating to a "hold" rating in a report on Monday, March 17th.

MRC Global Stock Up 0.6 %

MRC Global stock traded up $0.07 during trading hours on Thursday, hitting $11.72. 56,947 shares of the stock traded hands, compared to its average volume of 636,236. MRC Global Inc. has a one year low of $9.23 and a one year high of $15.41. The company has a market cap of $1.01 billion, a PE ratio of 13.50 and a beta of 1.67. The firm's 50-day moving average price is $11.27 and its two-hundred day moving average price is $12.66. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15.

MRC Global (NYSE:MRC - Get Free Report) last announced 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 net margin of 3.09% and a return on equity of 19.58%. The firm had revenue of $736.80 million for the quarter, compared to analysts' expectations of $726.90 million. During the same quarter in the previous year, the business posted $0.23 EPS. The company's quarterly revenue was down 10.3% on a year-over-year basis. On average, research analysts forecast that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global declared that its board has initiated a stock repurchase program 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 buy up to 11% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.