Legato Capital Management LLC Sells 24,610 Shares of MRC Global Inc. (NYSE:MRC)

Legato Capital Management LLC lowered its stake in MRC Global Inc. (NYSE:MRCFree Report) by 23.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 80,011 shares of the oil and gas company’s stock after selling 24,610 shares during the quarter. Legato Capital Management LLC’s holdings in MRC Global were worth $1,023,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pzena Investment Management LLC lifted its position in MRC Global by 0.4% in the third quarter. Pzena Investment Management LLC now owns 5,770,791 shares of the oil and gas company’s stock valued at $73,520,000 after purchasing an additional 20,407 shares during the last quarter. Wellington Management Group LLP lifted 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 valued at $40,886,000 after purchasing an additional 55,553 shares during the last quarter. Geode Capital Management LLC lifted its position in MRC Global by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,956,725 shares of the oil and gas company’s stock valued at $24,934,000 after purchasing an additional 32,760 shares during the last quarter. State Street Corp lifted its position in MRC Global by 1.2% in 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 last quarter. Finally, Victory Capital Management Inc. lifted its position in MRC Global by 2.0% in the third quarter. Victory Capital Management Inc. now owns 1,369,515 shares of the oil and gas company’s stock valued at $17,448,000 after purchasing an additional 26,619 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MRC. StockNews.com downgraded MRC Global from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 9th. Susquehanna upped their target price on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a report on Thursday, November 7th.

Check Out Our Latest Research Report on MRC

MRC Global Price Performance

Shares of MRC Global stock opened at $13.08 on Friday. 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 market cap of $1.11 billion, a PE ratio of 15.03 and a beta of 1.97. The business has a 50 day moving average of $13.57 and a 200 day moving average of $13.13. MRC Global Inc. has a 52 week low of $10.96 and a 52 week high of $15.41.

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

About MRC Global

(Free Report)

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.

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Institutional Ownership by Quarter for MRC Global (NYSE:MRC)

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