Charles Schwab Investment Management Inc. Has $13.24 Million Stock Position in MRC Global Inc. (NYSE:MRC)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of MRC Global Inc. (NYSE:MRC) by 13.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,036,062 shares of the oil and gas company’s stock after selling 162,102 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.22% of MRC Global worth $13,241,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Longboard Asset Management LP acquired a new position in MRC Global in the 4th quarter valued at approximately $134,000. EP Wealth Advisors LLC acquired a new position in MRC Global in the 3rd quarter valued at approximately $167,000. Ieq Capital LLC acquired a new position in shares of MRC Global in the fourth quarter worth $187,000. Intech Investment Management LLC acquired a new position in shares of MRC Global in the third quarter worth $193,000. Finally, Walleye Capital LLC acquired a new position in shares of MRC Global in the third quarter worth $196,000. 94.97% of the stock is owned by institutional investors and hedge funds.

MRC Global Stock Performance

NYSE:MRC opened at $11.95 on Friday. The stock has a market capitalization of $1.02 billion, a P/E ratio of 13.73 and a beta of 1.96. MRC Global Inc. has a 1 year low of $9.42 and a 1 year high of $15.41. The firm has a 50 day moving average of $13.06 and a 200-day moving average of $12.97. 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) 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 company 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%. MRC Global’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 earnings per share. As a group, sell-side analysts anticipate that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

MRC Global announced that its Board of Directors has initiated a share buyback 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 buy up to 11% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Susquehanna dropped their price target on shares of MRC Global from $17.00 to $15.00 and set a “positive” rating on the stock in a research note on Monday, March 17th. Stifel Nicolaus lowered their target price 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. StockNews.com lowered MRC Global from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Finally, Loop Capital lowered their price objective on MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday.

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.