Royce & Associates LP Has $12.24 Million Stock Holdings in MRC Global Inc. (NYSE:MRC)

Royce & Associates LP increased its stake in shares of MRC Global Inc. (NYSE:MRC) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 958,042 shares of the oil and gas company’s stock after purchasing an additional 48,290 shares during the quarter. Royce & Associates LP owned approximately 1.12% of MRC Global worth $12,244,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Swiss National Bank increased its position in MRC Global by 0.9% during the 4th quarter. Swiss National Bank now owns 167,649 shares of the oil and gas company’s stock worth $2,143,000 after purchasing an additional 1,500 shares in the last quarter. Pzena Investment Management LLC increased its position 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 purchasing an additional 54,859 shares in the last quarter. Raymond James Financial Inc. acquired a new position in MRC Global during the 4th quarter worth approximately $658,000. Proficio Capital Partners LLC acquired a new position in MRC Global during the 4th quarter worth approximately $233,000. Finally, Oppenheimer Asset Management Inc. increased its position in MRC Global by 17.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 30,264 shares of the oil and gas company’s stock worth $387,000 after purchasing an additional 4,440 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MRC has been the subject of several recent research reports. Stifel Nicolaus decreased their price target on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Monday. Susquehanna decreased their price target on shares of MRC Global from $17.00 to $15.00 and set a “positive” rating for the company in a research report on Monday. Finally, StockNews.com cut shares of MRC Global from a “buy” rating to a “hold” rating in a research report on Monday.

MRC Global Trading Up 1.9 %

MRC opened at $11.72 on Tuesday. MRC Global Inc. has a twelve month low of $9.42 and a twelve month high of $15.41. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $13.14 and a 200-day moving average of $13.00. The stock has a market cap of $998.62 million, a PE ratio of 13.47 and a beta of 1.96.

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 company 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 posted $0.23 earnings per share. MRC Global’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, sell-side analysts predict that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global declared that its Board of Directors has initiated a stock buyback program on Friday, January 3rd that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 11% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are 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.