Caisse Des Depots ET Consignations Takes $817,000 Position in MRC Global Inc. (NYSE:MRC)

Caisse Des Depots ET Consignations purchased a new stake in shares of MRC Global Inc. (NYSE:MRC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 63,955 shares of the oil and gas company’s stock, valued at approximately $817,000. Caisse Des Depots ET Consignations owned 0.08% of MRC Global as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in MRC. Vanguard Group Inc. grew its stake in shares of MRC Global by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 9,390,014 shares of the oil and gas company’s stock valued at $120,004,000 after buying an additional 42,331 shares in the last quarter. Pzena Investment Management LLC boosted its holdings 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 valued at $74,452,000 after acquiring an additional 54,859 shares during the period. Wellington Management Group LLP grew its position in MRC Global by 1.8% in the 3rd 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 acquiring an additional 55,553 shares in the last quarter. American Century Companies Inc. increased its stake in MRC Global by 18.5% during the fourth quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company’s stock worth $29,159,000 after purchasing an additional 356,372 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of MRC Global by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,956,725 shares of the oil and gas company’s stock worth $24,934,000 after purchasing an additional 32,760 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MRC has been the topic of a number of analyst reports. StockNews.com lowered shares of MRC Global from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Loop Capital cut their price target on MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Stifel Nicolaus lowered their target price on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, March 17th. Finally, Susquehanna cut their price target on MRC Global from $17.00 to $15.00 and set a “positive” rating on the stock in a research report on Monday, March 17th.

MRC Global Stock Performance

Shares of MRC Global stock opened at $11.91 on Friday. 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 Inc. has a 1 year low of $9.42 and a 1 year high of $15.41. The firm’s 50-day simple moving average is $12.92 and its 200-day simple moving average is $12.96. The firm has a market cap of $1.03 billion, a PE ratio of 13.69 and a beta of 1.96.

MRC Global (NYSE:MRC) last posted its earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share (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 firm had revenue of $736.80 million during the quarter, compared to analyst estimates of $726.90 million. During the same period in the previous year, the business posted $0.23 EPS. MRC Global’s revenue was down 10.3% on a year-over-year basis. Equities analysts forecast that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

MRC Global declared that its Board of Directors has initiated a share 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 repurchase up to 11% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

MRC Global Profile

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.