Proficio Capital Partners LLC Purchases Shares of 18,199 MRC Global Inc. (NYSE:MRC)

Proficio Capital Partners LLC purchased a new stake in MRC Global Inc. (NYSE:MRC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 18,199 shares of the oil and gas company’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC boosted its position in MRC Global by 0.4% in the third 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 buying an additional 20,407 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of MRC Global by 1.8% during the third quarter. Wellington Management Group LLP now owns 3,209,251 shares of the oil and gas company’s stock worth $40,886,000 after purchasing an additional 55,553 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of MRC Global by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,956,725 shares of the oil and gas company’s stock worth $24,934,000 after purchasing an additional 32,760 shares in the last quarter. State Street Corp lifted its position in shares of MRC Global by 1.2% during the third quarter. State Street Corp now owns 1,923,272 shares of the oil and gas company’s stock worth $24,502,000 after purchasing an additional 23,125 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of MRC Global by 2.0% during the third quarter. Victory Capital Management Inc. now owns 1,369,515 shares of the oil and gas company’s stock worth $17,448,000 after purchasing an additional 26,619 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

MRC Global Price Performance

Shares of MRC stock opened at $11.30 on Wednesday. MRC Global Inc. has a 1 year low of $11.08 and a 1 year high of $15.41. The firm’s 50 day moving average is $13.26 and its 200-day moving average is $13.04. The firm has a market capitalization of $962.82 million, a price-to-earnings ratio of 12.98 and a beta of 1.96. 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 announced that its Board of Directors has approved a stock buyback plan on Friday, January 3rd that permits the company to repurchase $125.00 million in shares. This repurchase authorization permits the oil and gas company to reacquire up to 11% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

About MRC Global

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.