Swiss National Bank Purchases 1,500 Shares of MRC Global Inc. (NYSE:MRC)

Swiss National Bank boosted its position in MRC Global Inc. (NYSE:MRC) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 167,649 shares of the oil and gas company’s stock after purchasing an additional 1,500 shares during the quarter. Swiss National Bank owned approximately 0.20% of MRC Global worth $2,143,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in MRC Global during the 4th quarter valued at about $233,000. Shaker Investments LLC OH bought a new position in shares of MRC Global during the fourth quarter valued at approximately $511,000. Barclays PLC lifted its holdings in shares of MRC Global by 197.7% during the third quarter. Barclays PLC now owns 151,169 shares of the oil and gas company’s stock valued at $1,927,000 after purchasing an additional 100,384 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of MRC Global by 12.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 156,332 shares of the oil and gas company’s stock worth $1,992,000 after purchasing an additional 17,609 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of MRC Global by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,956,725 shares of the oil and gas company’s stock worth $24,934,000 after buying an additional 32,760 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

MRC Global Trading Down 0.7 %

MRC Global stock opened at $11.91 on Friday. MRC Global Inc. has a one year low of $9.42 and a one year high of $15.41. The business’s fifty day moving average is $12.92 and its 200 day moving average is $12.96. The stock has a market capitalization of $1.03 billion, a PE ratio of 13.69 and a beta of 1.96. 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 (NYSE:MRC) last announced its quarterly earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $736.80 million for the quarter, compared to the consensus estimate of $726.90 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 EPS. On average, sell-side analysts predict that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global announced that its board has approved a share repurchase plan on Friday, January 3rd that permits the company to buyback $125.00 million in shares. This buyback authorization permits the oil and gas company to reacquire up to 11% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

MRC has been the topic of several analyst reports. 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 report on Monday, March 17th. StockNews.com cut shares of MRC Global from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. Susquehanna reduced their price objective on shares of MRC Global from $17.00 to $15.00 and set a “positive” rating for the company in a research note on Monday, March 17th. Finally, Loop Capital dropped their target price on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th.

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.