Jane Street Group LLC Sells 50,504 Shares of MRC Global Inc. (NYSE:MRC)

Jane Street Group LLC cut its stake in shares of MRC Global Inc. (NYSE:MRC) by 62.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,353 shares of the oil and gas company’s stock after selling 50,504 shares during the quarter. Jane Street Group LLC’s holdings in MRC Global were worth $387,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pzena Investment Management LLC increased its holdings in MRC Global by 0.4% during the 3rd quarter. Pzena Investment Management LLC now owns 5,770,791 shares of the oil and gas company’s stock valued at $73,520,000 after purchasing an additional 20,407 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of MRC Global by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock valued at $47,629,000 after buying an additional 97,445 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of MRC Global by 1.8% in the third quarter. Wellington Management Group LLP now owns 3,209,251 shares of the oil and gas company’s stock valued at $40,886,000 after buying an additional 55,553 shares in the last quarter. State Street Corp raised its holdings in shares of MRC Global by 1.2% in the third quarter. State Street Corp now owns 1,923,272 shares of the oil and gas company’s stock valued at $24,502,000 after buying an additional 23,125 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in MRC Global by 2.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,369,515 shares of the oil and gas company’s stock worth $17,448,000 after buying an additional 26,619 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

MRC Global Stock Up 0.7 %

MRC Global stock opened at $13.14 on Wednesday. MRC Global Inc. has a fifty-two week low of $9.77 and a fifty-two week high of $14.91. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 15.10 and a beta of 1.97. The company’s 50 day simple moving average is $13.31 and its 200 day simple moving average is $13.00.

MRC Global (NYSE:MRC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company had revenue of $797.00 million during the quarter, compared to the consensus estimate of $794.17 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The firm’s revenue was down 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that MRC Global Inc. will post 0.85 EPS for the current year.

MRC Global declared that its Board of Directors has initiated a share repurchase plan on Friday, January 3rd that permits the company to repurchase $125.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 11% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MRC. Susquehanna boosted their target price on shares of MRC Global from $16.00 to $17.00 and gave the stock a “positive” rating in a research note on Thursday, November 7th. StockNews.com cut shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 9th. Finally, Stifel Nicolaus increased their price objective on MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th.

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.