Quantbot Technologies LP Sells 4,234 Shares of MRC Global Inc. (NYSE:MRC)

Quantbot Technologies LP cut its holdings in MRC Global Inc. (NYSE:MRC) by 20.3% during the 4th quarter, Holdings Channel reports. The fund owned 16,653 shares of the oil and gas company’s stock after selling 4,234 shares during the period. Quantbot Technologies LP’s holdings in MRC Global were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of MRC. Pzena Investment Management LLC raised its stake in MRC Global by 1.0% during the 4th quarter. Pzena Investment Management LLC now owns 5,825,650 shares of the oil and gas company’s stock worth $74,452,000 after acquiring an additional 54,859 shares during the period. Wellington Management Group LLP increased its position in MRC Global by 1.8% in the third quarter. Wellington Management Group LLP now owns 3,209,251 shares of the oil and gas company’s stock worth $40,886,000 after purchasing an additional 55,553 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of MRC Global by 1.7% in 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 buying an additional 32,760 shares during the last quarter. State Street Corp raised its position in MRC Global by 1.2% during the third quarter. State Street Corp now owns 1,923,272 shares of the oil and gas company’s stock valued at $24,502,000 after purchasing an additional 23,125 shares during the period. Finally, Harvey Partners LLC lifted its position in MRC Global by 3.9% in the third quarter. Harvey Partners LLC now owns 1,324,000 shares of the oil and gas company’s stock worth $16,868,000 after buying an additional 49,500 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

MRC Global Stock Down 2.2 %

Shares of NYSE MRC opened at $11.66 on Friday. MRC Global Inc. has a 52-week low of $9.42 and a 52-week high of $15.41. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 13.41 and a beta of 1.96. The stock has a 50 day moving average price of $12.86 and a 200 day moving average price of $12.97. 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 issued its earnings results 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. The business had revenue of $736.80 million during the quarter, compared to analysts’ expectations of $726.90 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS. Sell-side analysts expect that MRC Global Inc. will post 0.86 earnings per share for the current year.

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

Analyst Ratings Changes

Several analysts have issued reports on MRC shares. StockNews.com downgraded shares of MRC Global from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. Susquehanna reduced their target price on MRC Global from $17.00 to $15.00 and set a “positive” rating on the stock in a research note on Monday, March 17th. Loop Capital decreased their target price on MRC Global from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus cut their price target on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, March 17th.

About MRC Global

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.