Jane Street Group LLC Sells 50,504 Shares of MRC Global Inc. (NYSE:MRC)

Jane Street Group LLC cut its position in shares of MRC Global Inc. (NYSE:MRC) by 62.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 30,353 shares of the oil and gas company’s stock after selling 50,504 shares during the quarter. Jane Street Group LLC’s holdings in MRC Global were worth $387,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MRC. Renaissance Technologies LLC grew its holdings in MRC Global by 18.9% during the second quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company’s stock worth $16,636,000 after buying an additional 204,600 shares in the last quarter. Rhumbline Advisers grew its stake in shares of MRC Global by 62.0% in the 2nd quarter. Rhumbline Advisers now owns 247,047 shares of the oil and gas company’s stock worth $3,189,000 after acquiring an additional 94,566 shares in the last quarter. Quest Partners LLC grew its stake in shares of MRC Global by 162.9% in the 2nd quarter. Quest Partners LLC now owns 75,977 shares of the oil and gas company’s stock worth $981,000 after acquiring an additional 47,075 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of MRC Global by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock valued at $47,629,000 after purchasing an additional 97,445 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of MRC Global by 20.4% during 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. Institutional investors own 94.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com downgraded shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research 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. Finally, Stifel Nicolaus lifted their price target on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th.

MRC Global Stock Performance

NYSE MRC opened at $13.14 on Wednesday. The company has a market capitalization of $1.12 billion, a PE ratio of 15.10 and a beta of 1.97. 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 52-week low of $9.77 and a 52-week high of $14.91. The company has a 50-day simple moving average of $13.31 and a 200 day simple moving average of $13.00.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company had revenue of $797.00 million during the quarter, compared to analyst estimates of $794.17 million. During the same quarter last year, the business posted $0.32 EPS. MRC Global’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, research analysts predict that MRC Global Inc. will post 0.85 EPS for the current year.

MRC Global announced that its Board of Directors has initiated a share buyback plan 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 repurchase up to 11% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is 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.