Russell Investments Group Ltd. Sells 22,247 Shares of MRC Global Inc. (NYSE:MRC)

Russell Investments Group Ltd. lessened its position in MRC Global Inc. (NYSE:MRC) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 387,010 shares of the oil and gas company’s stock after selling 22,247 shares during the period. Russell Investments Group Ltd. owned about 0.45% of MRC Global worth $4,946,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Huntington National Bank bought a new position in MRC Global in the 4th quarter valued at approximately $34,000. Meeder Asset Management Inc. bought a new position in shares of MRC Global during the fourth quarter valued at $56,000. Longboard Asset Management LP purchased a new stake in shares of MRC Global during the fourth quarter valued at $134,000. EP Wealth Advisors LLC bought a new stake in MRC Global in the 3rd quarter worth about $167,000. Finally, Ieq Capital LLC purchased a new position in MRC Global in the 4th quarter worth about $187,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

MRC Global Stock Performance

Shares of NYSE MRC opened at $10.23 on Tuesday. 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 Inc. has a 12-month low of $9.23 and a 12-month high of $15.41. The firm has a market capitalization of $880.63 million, a price-to-earnings ratio of 11.76 and a beta of 1.67. The firm has a 50 day moving average of $11.72 and a 200 day moving average of $12.79.

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

MRC Global declared that its board has authorized a share buyback plan on Friday, January 3rd that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 11% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

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.