Brandywine Global Investment Management LLC Buys 29,394 Shares of MRC Global Inc. (NYSE:MRC)

Brandywine Global Investment Management LLC increased its stake in shares of MRC Global Inc. (NYSE:MRC) by 11.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 289,352 shares of the oil and gas company’s stock after purchasing an additional 29,394 shares during the period. Brandywine Global Investment Management LLC’s holdings in MRC Global were worth $3,698,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in shares of MRC Global during the 4th quarter valued at about $233,000. Shaker Investments LLC OH purchased a new stake in shares of MRC Global in the fourth quarter worth about $511,000. Barclays PLC boosted its stake in MRC Global by 197.7% during the third quarter. Barclays PLC now owns 151,169 shares of the oil and gas company’s stock valued at $1,927,000 after buying an additional 100,384 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in MRC Global by 12.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 156,332 shares of the oil and gas company’s stock valued at $1,992,000 after buying an additional 17,609 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in MRC Global by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,956,725 shares of the oil and gas company’s stock worth $24,934,000 after acquiring an additional 32,760 shares during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

MRC Global Trading Up 1.1 %

MRC stock opened at $11.61 on Wednesday. MRC Global Inc. has a twelve month low of $9.42 and a twelve month high of $15.41. The stock has a market capitalization of $999.17 million, a price-to-earnings ratio of 13.34 and a beta of 1.96. 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 firm’s fifty day simple moving average is $12.74 and its two-hundred day simple moving average is $12.97.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company had revenue of $736.80 million for the quarter, compared to analyst estimates of $726.90 million. During the same period in the prior year, the company posted $0.23 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, analysts anticipate that MRC Global Inc. will post 0.86 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com downgraded MRC Global from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Loop Capital dropped their price objective on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Susquehanna decreased their target price on shares of MRC Global from $17.00 to $15.00 and set a “positive” rating on the stock in a research report on Monday, March 17th. Finally, Stifel Nicolaus dropped their price target on MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a research report 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.