New York State Common Retirement Fund Raises Stock Holdings in MRC Global Inc. (NYSE:MRC)

New York State Common Retirement Fund increased its stake in shares of MRC Global Inc. (NYSE:MRC) by 21.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,900 shares of the oil and gas company’s stock after purchasing an additional 4,992 shares during the quarter. New York State Common Retirement Fund’s holdings in MRC Global were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MRC. Pzena Investment Management LLC raised its position in shares of 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 during the last quarter. Wellington Management Group LLP boosted its holdings in shares of MRC Global by 1.8% in the 3rd 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 purchasing an additional 55,553 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of MRC Global by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,956,725 shares of the oil and gas company’s stock valued at $24,934,000 after buying an additional 32,760 shares during the period. State Street Corp increased its holdings in shares of MRC Global by 1.2% during the 3rd quarter. State Street Corp now owns 1,923,272 shares of the oil and gas company’s stock worth $24,502,000 after buying an additional 23,125 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in MRC Global by 2.0% in the third quarter. Victory Capital Management Inc. now owns 1,369,515 shares of the oil and gas company’s stock valued at $17,448,000 after acquiring an additional 26,619 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

MRC Global Stock Down 2.8 %

Shares of NYSE MRC opened at $11.26 on Wednesday. The stock has a fifty day moving average price of $13.40 and a 200 day moving average price of $13.09. The company has a market cap of $959.41 million, a P/E ratio of 12.94 and a beta of 1.97. MRC Global Inc. has a 12-month low of $11.08 and a 12-month high of $15.41. 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 has initiated a share repurchase plan on Friday, January 3rd that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 11% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

MRC has been the topic of a number of research reports. StockNews.com downgraded MRC Global from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 9th. Susquehanna lifted their price target on shares of MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Thursday, November 7th.

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.