MHI Funds LLC acquired a new stake in MRC Global Inc (NYSE:MRC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,128 shares of the oil and gas company’s stock, valued at approximately $171,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Koch Industries Inc. purchased a new position in MRC Global in the 2nd quarter valued at approximately $238,000. Dynamic Technology Lab Private Ltd purchased a new position in MRC Global in the 3rd quarter valued at approximately $276,000. Suntrust Banks Inc. increased its stake in MRC Global by 1.2% in the 2nd quarter. Suntrust Banks Inc. now owns 18,307 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 215 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in MRC Global by 2,026.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 19,288 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 18,381 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in MRC Global in the 3rd quarter valued at approximately $448,000. 94.01% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Andrew R. Lane sold 180,621 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $19.00, for a total transaction of $3,431,799.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew R. Lane sold 293,154 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $19.00, for a total value of $5,569,926.00. The disclosure for this sale can be found here. Company insiders own 6.30% of the company’s stock.

MRC Global Inc (MRC) opened at $18.91 on Wednesday. The company has a current ratio of 2.31, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1,792.35, a price-to-earnings ratio of -67.53, a price-to-earnings-growth ratio of 2.00 and a beta of 1.60. MRC Global Inc has a 1 year low of $14.01 and a 1 year high of $22.26.

MRC Global (NYSE:MRC) last released its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). MRC Global had a positive return on equity of 1.44% and a negative net margin of 0.09%. sell-side analysts forecast that MRC Global Inc will post 0.09 EPS for the current fiscal year.

MRC Global announced that its board has initiated a stock repurchase program on Thursday, November 2nd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the oil and gas company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Several research firms recently weighed in on MRC. Zacks Investment Research raised MRC Global from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price objective on shares of MRC Global in a research note on Tuesday, October 17th. Cowen dropped their price objective on MRC Global from $24.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, November 6th. Susquehanna Bancshares set a $21.00 price objective on MRC Global and gave the company a “buy” rating in a research note on Friday, January 12th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $21.00 price objective on shares of MRC Global in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. MRC Global currently has a consensus rating of “Hold” and a consensus target price of $20.67.

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About MRC Global

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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Institutional Ownership by Quarter for MRC Global (NYSE:MRC)

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