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

Federated Hermes Inc. raised its position in MRC Global Inc. (NYSE:MRC) by 2.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 104,601 shares of the oil and gas company’s stock after purchasing an additional 2,003 shares during the period. Federated Hermes Inc.’s holdings in MRC Global were worth $1,337,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its stake in MRC Global by 35.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 14,657 shares of the oil and gas company’s stock valued at $187,000 after acquiring an additional 3,855 shares during the last quarter. Wells Fargo & Company MN lifted its stake in MRC Global by 27.2% in the 4th quarter. Wells Fargo & Company MN now owns 50,287 shares of the oil and gas company’s stock valued at $643,000 after buying an additional 10,759 shares in the last quarter. Foundry Partners LLC increased its position in MRC Global by 6.5% during the fourth quarter. Foundry Partners LLC now owns 354,395 shares of the oil and gas company’s stock worth $4,529,000 after buying an additional 21,512 shares in the last quarter. Huntington National Bank acquired a new position in shares of MRC Global in the fourth quarter worth $34,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of MRC Global during the fourth quarter valued at $56,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on MRC shares. StockNews.com lowered shares of MRC Global from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Susquehanna decreased their target price on shares of MRC Global from $15.00 to $13.00 and set a “positive” rating on the stock in a research report on Monday. Stifel Nicolaus lowered their target price on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Loop Capital decreased their price objective on MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th.

MRC Global Stock Performance

NYSE:MRC opened at $10.23 on Tuesday. The company has a market cap of $880.63 million, a P/E ratio of 11.76 and a beta of 1.67. The firm’s 50 day moving average is $11.72 and its two-hundred day moving average is $12.79. MRC Global Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $15.41. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15.

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, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $736.80 million during the quarter, compared to the consensus estimate of $726.90 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share. Analysts expect that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global declared that its Board of Directors has authorized a share repurchase plan 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 purchase up to 11% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership 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.