Robertson Stephens Wealth Management LLC Increases Stock Position in MRC Global Inc. (NYSE:MRC)

Robertson Stephens Wealth Management LLC increased its position in MRC Global Inc. (NYSE:MRC) by 74.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,635 shares of the oil and gas company’s stock after purchasing an additional 36,521 shares during the quarter. Robertson Stephens Wealth Management LLC owned 0.10% of MRC Global worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Pzena Investment Management LLC boosted its stake in shares of MRC Global by 0.4% in the third quarter. Pzena Investment Management LLC now owns 5,770,791 shares of the oil and gas company’s stock valued at $73,520,000 after purchasing an additional 20,407 shares during the period. Wellington Management Group LLP boosted its stake in MRC Global by 1.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,209,251 shares of the oil and gas company’s stock valued at $40,886,000 after acquiring an additional 55,553 shares during the last quarter. Geode Capital Management LLC boosted its stake in MRC Global by 1.7% during 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 acquiring an additional 32,760 shares during the last quarter. State Street Corp boosted its stake in MRC Global by 1.2% during the 3rd quarter. State Street Corp now owns 1,923,272 shares of the oil and gas company’s stock valued at $24,502,000 after acquiring an additional 23,125 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in MRC Global by 2.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,369,515 shares of the oil and gas company’s stock valued at $17,448,000 after acquiring an additional 26,619 shares during the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

MRC Global Stock Down 7.9 %

Shares of NYSE:MRC opened at $13.38 on Friday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 15.37 and a beta of 1.97. MRC Global Inc. has a 1-year low of $10.29 and a 1-year high of $15.41. The company’s fifty day moving average is $13.68 and its two-hundred day moving average is $13.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99.

MRC Global (NYSE:MRC) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The business had revenue of $797.00 million for the quarter, compared to analysts’ expectations of $794.17 million. During the same quarter last year, the company earned $0.32 EPS. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities analysts anticipate that MRC Global Inc. will post 0.86 EPS for the current year.

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

Analyst Ratings Changes

MRC has been the topic of a number of research analyst reports. Susquehanna increased their price objective on shares of MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research note on Thursday, November 7th. Stifel Nicolaus increased their price objective on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, StockNews.com downgraded shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 9th.

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.