Barclays PLC grew its stake in MRC Global Inc. (NYSE:MRC - Free Report) by 218.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 480,669 shares of the oil and gas company's stock after buying an additional 329,500 shares during the quarter. Barclays PLC owned approximately 0.56% of MRC Global worth $6,143,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Swiss National Bank raised its holdings in shares of 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 worth $2,143,000 after buying an additional 1,500 shares during the period. Federated Hermes Inc. grew its stake in MRC Global by 2.0% in the 4th quarter. Federated Hermes Inc. now owns 104,601 shares of the oil and gas company's stock worth $1,337,000 after acquiring an additional 2,003 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of MRC Global by 7.1% during the fourth 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. Sterling Capital Management LLC boosted 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 valued at $34,000 after purchasing an additional 2,406 shares during the period. Finally, Huntington National Bank bought a new position in MRC Global in the fourth quarter worth approximately $34,000. Institutional investors own 94.97% of the company's stock.
Wall Street Analysts Forecast Growth
MRC has been the subject of several research reports. Susquehanna lowered their price target on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Stifel Nicolaus dropped their target price on MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Loop Capital decreased their price objective 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. Finally, StockNews.com lowered MRC Global from a "buy" rating to a "hold" rating in a research note on Monday, March 17th.
Read Our Latest Stock Report on MRC
MRC Global Stock Down 0.8 %
Shares of MRC Global stock traded down $0.09 during trading on Wednesday, reaching $11.64. The company's stock had a trading volume of 223,448 shares, compared to its average volume of 635,594. MRC Global Inc. has a 1-year low of $9.23 and a 1-year high of $15.41. The company has a 50-day simple moving average of $11.28 and a two-hundred day simple moving average of $12.67. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 13.38 and a beta of 1.67.
MRC Global (NYSE:MRC - Get Free Report) last issued 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. The business had revenue of $736.80 million during the quarter, compared to the consensus estimate of $726.90 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The company's quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the company earned $0.23 earnings per share. As a group, equities analysts forecast that MRC Global Inc. will post 0.86 earnings per share for the current year.
MRC Global declared that its board has initiated a share repurchase program on Friday, January 3rd that allows the company to buyback $125.00 million in shares. This buyback authorization allows the oil and gas company to purchase up to 11% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.
MRC Global Company Profile
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Free Report)
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.
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