Meeder Asset Management Inc. Purchases Shares of 4,381 MRC Global Inc. (NYSE:MRC)

Meeder Asset Management Inc. acquired a new position in shares of MRC Global Inc. (NYSE:MRC) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 4,381 shares of the oil and gas company’s stock, valued at approximately $56,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Longboard Asset Management LP bought a new stake in MRC Global during the 4th quarter worth approximately $134,000. EP Wealth Advisors LLC bought a new stake in shares of MRC Global during the third quarter worth $167,000. Ieq Capital LLC acquired a new stake in shares of MRC Global in the fourth quarter valued at $187,000. Intech Investment Management LLC bought a new position in shares of MRC Global in the third quarter valued at about $193,000. Finally, Walleye Capital LLC acquired a new position in MRC Global during the 3rd quarter worth about $196,000. 94.97% of the stock is owned by institutional investors.

MRC Global Stock Up 1.1 %

Shares of NYSE MRC opened at $11.61 on Wednesday. MRC Global Inc. has a 1 year low of $9.42 and a 1 year high of $15.41. The firm’s 50-day moving average is $12.74 and its 200-day moving average is $12.97. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $999.17 million, a PE ratio of 13.34 and a beta of 1.96.

MRC Global (NYSE:MRC) last released its quarterly earnings data 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 return on equity of 19.58% and a net margin of 3.09%. The business had revenue of $736.80 million during the quarter, compared to the consensus estimate of $726.90 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The firm’s revenue was down 10.3% on a year-over-year basis. Equities analysts expect that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global declared that its Board of Directors has initiated a share buyback plan on Friday, January 3rd that permits the company to buyback $125.00 million in shares. This buyback authorization permits the oil and gas company to reacquire up to 11% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

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