Caisse Des Depots ET Consignations Buys New Position in MRC Global Inc. (NYSE:MRC)

Caisse Des Depots ET Consignations purchased a new position in shares of MRC Global Inc. (NYSE:MRC) in the fourth quarter, HoldingsChannel reports. The fund purchased 63,955 shares of the oil and gas company’s stock, valued at approximately $817,000.

Several other hedge funds also recently made changes to their positions in MRC. Proficio Capital Partners LLC acquired a new stake in shares of MRC Global during the 4th quarter worth about $233,000. Shaker Investments LLC OH acquired a new stake in MRC Global during the fourth quarter worth approximately $511,000. Barclays PLC boosted its holdings in shares of MRC Global by 197.7% during the third quarter. Barclays PLC now owns 151,169 shares of the oil and gas company’s stock worth $1,927,000 after acquiring an additional 100,384 shares during the period. JPMorgan Chase & Co. grew its position in shares of MRC Global by 12.7% in the third quarter. JPMorgan Chase & Co. now owns 156,332 shares of the oil and gas company’s stock valued at $1,992,000 after purchasing an additional 17,609 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings 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 worth $24,934,000 after purchasing an additional 32,760 shares during the last quarter. 94.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on MRC. Susquehanna decreased their price objective on MRC Global from $17.00 to $15.00 and set a “positive” rating on the stock in a report on Monday, March 17th. Stifel Nicolaus decreased their price target on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. StockNews.com cut shares of MRC Global from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. Finally, Loop Capital decreased their target price on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th.

MRC Global Stock Performance

NYSE:MRC opened at $11.91 on Friday. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 13.69 and a beta of 1.96. MRC Global Inc. has a fifty-two week low of $9.42 and a fifty-two week high of $15.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. The stock has a fifty day moving average price of $12.92 and a 200-day moving average price of $12.96.

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

MRC Global declared that its Board of Directors has initiated a share repurchase plan 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 repurchase up to 11% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.