MRC Global Inc. (NYSE:MRC) Shares Sold by Trexquant Investment LP

Trexquant Investment LP trimmed its stake in shares of MRC Global Inc. (NYSE:MRC) by 51.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,866 shares of the oil and gas company’s stock after selling 111,652 shares during the period. Trexquant Investment LP’s holdings in MRC Global were worth $1,353,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in MRC Global by 33.8% during the third quarter. The Manufacturers Life Insurance Company now owns 42,883 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 10,822 shares in the last quarter. FMR LLC increased its holdings in shares of MRC Global by 25.3% in the third quarter. FMR LLC now owns 100,976 shares of the oil and gas company’s stock valued at $1,286,000 after purchasing an additional 20,406 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of MRC Global in the third quarter valued at approximately $196,000. State Street Corp increased its stake 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 worth $24,502,000 after acquiring an additional 23,125 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in MRC Global by 1.8% during 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 acquiring an additional 55,553 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

MRC Global Stock Up 9.5 %

MRC Global stock opened at $10.36 on Thursday. The company has a market capitalization of $891.82 million, a P/E ratio of 11.91 and a beta of 1.67. MRC Global Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $15.41. The stock has a 50-day simple moving average of $11.98 and a 200-day simple moving average of $12.84. 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 quarterly earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The firm had revenue of $736.80 million for the quarter, compared to analysts’ expectations of $726.90 million. During the same quarter in the previous year, the firm posted $0.23 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. Equities research analysts expect that MRC Global Inc. will post 0.86 earnings per share for the current year.

MRC Global declared that its board has initiated a stock buyback program 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 reacquire up to 11% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

MRC has been the subject of a number of research reports. Susquehanna dropped their price objective on MRC Global from $17.00 to $15.00 and set a “positive” rating for the company 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 report on Tuesday, March 18th. Stifel Nicolaus decreased their price target on MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a 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.

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.