Prudential Financial Inc. Grows Stock Holdings in MRC Global Inc. (NYSE:MRC)

Prudential Financial Inc. increased its position in shares of MRC Global Inc. (NYSE:MRC) by 43.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 626,415 shares of the oil and gas company’s stock after acquiring an additional 188,863 shares during the quarter. Prudential Financial Inc.’s holdings in MRC Global were worth $8,006,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MRC. Longboard Asset Management LP acquired a new position in shares of MRC Global during the 4th quarter worth about $134,000. EP Wealth Advisors LLC purchased a new stake in MRC Global during the third quarter worth approximately $167,000. Ieq Capital LLC acquired a new position in MRC Global in the fourth quarter valued at approximately $187,000. Intech Investment Management LLC purchased a new position in MRC Global in the third quarter valued at approximately $193,000. Finally, Walleye Capital LLC acquired a new stake in MRC Global during the third quarter worth approximately $196,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Analysts Set New Price Targets

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

MRC Global Stock Down 2.2 %

MRC stock opened at $11.66 on Friday. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 13.41 and a beta of 1.96. The company has a fifty 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 current ratio of 1.99 and a quick ratio of 1.11. MRC Global Inc. has a 12 month low of $9.42 and a 12 month high of $15.41.

MRC Global (NYSE:MRC) last announced its earnings results on Friday, March 14th. The oil and gas company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates 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 period in the prior year, the company earned $0.23 earnings per share. The business’s revenue was down 10.3% compared to the same quarter last year. 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 of Directors has authorized a stock repurchase plan on Friday, January 3rd that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 11% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.