Empowered Funds LLC Has $4.81 Million Position in MRC Global Inc. (NYSE:MRC)

Empowered Funds LLC raised its stake in MRC Global Inc. (NYSE:MRC) by 32.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 376,014 shares of the oil and gas company’s stock after buying an additional 92,874 shares during the quarter. Empowered Funds LLC owned 0.44% of MRC Global worth $4,805,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MRC. The Manufacturers Life Insurance Company grew its holdings in shares of MRC Global by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,061 shares of the oil and gas company’s stock valued at $414,000 after acquiring an additional 1,289 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in MRC Global by 20.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 15,575 shares of the oil and gas company’s stock valued at $198,000 after purchasing an additional 2,639 shares in the last quarter. Victory Capital Management Inc. grew its stake 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 in the last quarter. MQS Management LLC acquired a new position in MRC Global in the 3rd quarter worth about $154,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of MRC Global during the 3rd quarter worth about $329,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

MRC Global Stock Up 3.9 %

Shares of MRC stock opened at $13.21 on Wednesday. The stock’s 50 day simple moving average is $13.61 and its 200 day simple moving average is $13.13. MRC Global Inc. has a twelve month low of $10.31 and a twelve month high of $15.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.19 and a beta of 1.97.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Susquehanna boosted their price target on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 9th. Finally, Stifel Nicolaus raised their price target on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, October 15th.

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.