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

Swiss National Bank grew its holdings in MRC Global Inc. (NYSE:MRC) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 167,649 shares of the oil and gas company’s stock after acquiring an additional 1,500 shares during the period. Swiss National Bank’s holdings in MRC Global were worth $2,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MRC. Barclays PLC increased its stake in shares of MRC Global by 197.7% in the 3rd quarter. Barclays PLC now owns 151,169 shares of the oil and gas company’s stock worth $1,927,000 after purchasing an additional 100,384 shares in the last quarter. Empowered Funds LLC increased its position in MRC Global by 32.8% in the fourth quarter. Empowered Funds LLC now owns 376,014 shares of the oil and gas company’s stock worth $4,805,000 after buying an additional 92,874 shares in the last quarter. Jennison Associates LLC bought a new position in shares of MRC Global in the fourth quarter worth about $1,108,000. Wellington Management Group LLP lifted its position in shares of MRC Global by 1.8% during 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 buying an additional 55,553 shares in the last quarter. Finally, Pzena Investment Management LLC grew its stake in shares of MRC Global by 1.0% during the 4th quarter. Pzena Investment Management LLC now owns 5,825,650 shares of the oil and gas company’s stock valued at $74,452,000 after acquiring an additional 54,859 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

MRC Global Stock Performance

Shares of NYSE MRC opened at $11.91 on Friday. The company has a market cap of $1.03 billion, a P/E ratio of 13.69 and a beta of 1.96. MRC Global Inc. has a 52-week low of $9.42 and a 52-week high of $15.41. 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 firm’s fifty day moving average is $12.92 and its two-hundred day moving average is $12.96.

MRC Global (NYSE:MRC) last announced its quarterly earnings results on Friday, March 14th. The oil and gas company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The company had revenue of $736.80 million during the quarter, compared to analyst estimates of $726.90 million. During the same period in the prior year, the company earned $0.23 earnings per share. The firm’s revenue was down 10.3% on a year-over-year basis. As a group, analysts anticipate that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

MRC Global declared that its board has approved a stock buyback plan 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 reacquire up to 11% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MRC. StockNews.com downgraded shares of MRC Global from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Loop Capital dropped their target price on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Susquehanna decreased their price target on MRC Global from $17.00 to $15.00 and set a “positive” rating on the stock in a report on Monday, March 17th. Finally, Stifel Nicolaus dropped their price objective on MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, March 17th.

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.