Shaker Investments LLC OH Takes Position in MRC Global Inc. (NYSE:MRC)

Shaker Investments LLC OH purchased a new position in shares of MRC Global Inc. (NYSE:MRC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 39,961 shares of the oil and gas company’s stock, valued at approximately $511,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Longboard Asset Management LP purchased a new stake in shares of MRC Global in the fourth quarter worth approximately $134,000. MQS Management LLC bought a new position in MRC Global in the 3rd quarter valued at $154,000. EP Wealth Advisors LLC purchased a new stake in shares of MRC Global during the third quarter valued at $167,000. Intech Investment Management LLC bought a new position in shares of MRC Global in the third quarter worth about $193,000. Finally, Walleye Capital LLC bought a new stake in MRC Global during the 3rd quarter valued at about $196,000. 94.97% of the stock is currently owned by institutional investors.

MRC Global Stock Performance

Shares of MRC opened at $12.69 on Tuesday. MRC Global Inc. has a one year low of $10.31 and a one year high of $15.41. The stock has a market cap of $1.08 billion, a P/E ratio of 14.59 and a beta of 1.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. The stock has a 50-day moving average of $13.63 and a two-hundred day moving average of $13.15.

MRC Global declared that its board has initiated a share repurchase program on Friday, January 3rd that allows the company to buyback $125.00 million in shares. This buyback authorization allows the oil and gas company to purchase up to 11% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus increased their price target on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Susquehanna upped their price objective 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. Finally, StockNews.com lowered MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 9th.

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.