Empowered Funds LLC Acquires 92,874 Shares of MRC Global Inc. (NYSE:MRC)

Empowered Funds LLC boosted its holdings in shares of MRC Global Inc. (NYSE:MRC) by 32.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 376,014 shares of the oil and gas company’s stock after purchasing an additional 92,874 shares during the quarter. Empowered Funds LLC’s holdings in MRC Global were worth $4,805,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRC. The Manufacturers Life Insurance Company lifted its holdings in shares of MRC Global by 4.2% during the second quarter. The Manufacturers Life Insurance Company now owns 32,061 shares of the oil and gas company’s stock worth $414,000 after buying an additional 1,289 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in MRC Global by 20.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 15,575 shares of the oil and gas company’s stock worth $198,000 after acquiring an additional 2,639 shares during the period. Victory Capital Management Inc. increased its position in MRC Global by 2.0% during the third quarter. Victory Capital Management Inc. now owns 1,369,515 shares of the oil and gas company’s stock worth $17,448,000 after acquiring an additional 26,619 shares during the period. MQS Management LLC acquired a new position in MRC Global during the 3rd quarter valued at $154,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in MRC Global in the 3rd quarter valued at $329,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

MRC Global Trading Up 3.9 %

Shares of MRC Global stock opened at $13.21 on Wednesday. The company’s fifty day moving average price is $13.61 and its two-hundred day moving average price is $13.13. The firm has a market capitalization of $1.13 billion, a PE ratio of 15.19 and a beta of 1.97. MRC Global Inc. has a 52-week low of $10.31 and a 52-week high of $15.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on MRC. Susquehanna boosted their price objective on shares of MRC Global from $16.00 to $17.00 and gave the stock a “positive” rating in a report on Thursday, November 7th. Stifel Nicolaus lifted their target price on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, StockNews.com cut MRC Global from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 9th.

MRC Global Company 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.