Dimensional Fund Advisors LP Has $69.67 Million Holdings in MRC Global Inc (MRC)
Dimensional Fund Advisors LP decreased its holdings in shares of MRC Global Inc (NYSE:MRC) by 6.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,983,607 shares of the oil and gas company’s stock after selling 272,811 shares during the period. Dimensional Fund Advisors LP owned 4.21% of MRC Global worth $69,673,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Prudential Financial Inc. increased its stake in shares of MRC Global by 7.4% during the second quarter. Prudential Financial Inc. now owns 371,420 shares of the oil and gas company’s stock valued at $6,135,000 after purchasing an additional 25,720 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in shares of MRC Global during the second quarter valued at approximately $17,961,000. Fox Run Management L.L.C. bought a new position in shares of MRC Global during the third quarter valued at approximately $448,000. Quantbot Technologies LP increased its stake in shares of MRC Global by 346.3% during the second quarter. Quantbot Technologies LP now owns 65,592 shares of the oil and gas company’s stock valued at $1,083,000 after purchasing an additional 50,894 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC bought a new position in shares of MRC Global during the second quarter valued at approximately $1,235,000. 94.08% of the stock is owned by institutional investors and hedge funds.
MRC has been the subject of a number of analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $18.00 target price on shares of MRC Global in a research note on Thursday, December 14th. Cowen set a $24.00 price target on shares of MRC Global and gave the company a “buy” rating in a research report on Friday, October 6th. Robert W. Baird reissued a “hold” rating and set a $21.00 price target on shares of MRC Global in a research report on Monday, October 9th. Zacks Investment Research raised shares of MRC Global from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of MRC Global from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $20.44.
Shares of MRC Global Inc (NYSE:MRC) opened at $16.90 on Thursday. The firm has a market cap of $1,590.00, a P/E ratio of -60.36, a P/E/G ratio of 13.10 and a beta of 1.60. The company has a current ratio of 2.31, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. MRC Global Inc has a 1 year low of $14.01 and a 1 year high of $22.26.
MRC Global announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 2nd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
MRC Global Company Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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