MRC Global Inc. (NYSE:MRC) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in shares of MRC Global Inc. (NYSE:MRC) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,601 shares of the oil and gas company’s stock after purchasing an additional 2,003 shares during the quarter. Federated Hermes Inc. owned approximately 0.12% of MRC Global worth $1,337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new position in shares of MRC Global in the 4th quarter valued at $233,000. Shaker Investments LLC OH purchased a new position in shares of MRC Global during the fourth quarter worth about $511,000. Barclays PLC increased its position 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 worth $1,927,000 after purchasing an additional 100,384 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of MRC Global by 12.7% during the third 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 lifted its holdings 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 valued at $24,934,000 after purchasing an additional 32,760 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MRC. Stifel Nicolaus reduced 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. StockNews.com downgraded shares of MRC Global from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Loop Capital lowered their price objective on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Finally, Susquehanna reduced their target price on shares of MRC Global from $15.00 to $13.00 and set a “positive” rating for the company in a report on Monday.

MRC Global Stock Performance

Shares of MRC opened at $10.23 on Tuesday. MRC Global Inc. has a 1 year low of $9.23 and a 1 year high of $15.41. The stock has a market capitalization of $880.63 million, a P/E ratio of 11.76 and a beta of 1.67. 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 company’s fifty day moving average is $11.72 and its two-hundred day moving average is $12.79.

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

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

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.