MRC Global Inc. (NYSE:MRC) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its position in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,475,159 shares of the oil and gas company's stock after selling 56,900 shares during the period. Renaissance Technologies LLC owned approximately 1.73% of MRC Global worth $18,853,000 at the end of the most recent quarter.

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

MRC Global Stock Performance

Shares of MRC traded up $0.63 during midday trading on Friday, reaching $10.87. 885,846 shares of the stock were exchanged, compared to its average volume of 629,680. The company has a market capitalization of $935.29 million, a price-to-earnings ratio of 12.49 and a beta of 1.67. 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 Inc. has a twelve month low of $9.23 and a twelve month high of $15.41. The business's 50-day moving average price is $11.57 and its 200 day moving average price is $12.74.

MRC Global (NYSE:MRC - Get Free Report) last announced its earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.08. The business had revenue of $736.80 million for the quarter, compared to analyst estimates of $726.90 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. On average, sell-side analysts expect that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

MRC Global declared that its Board of Directors has authorized a stock repurchase plan on Friday, January 3rd that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 11% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MRC has been the subject of several recent research reports. Loop Capital decreased their price target on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Stifel Nicolaus reduced their target price on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Monday, March 17th. Susquehanna dropped their price objective on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating on the stock in a research report on Monday. Finally, StockNews.com lowered 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.