BNP Paribas Arbitrage SA trimmed its stake in shares of MRC Global Inc (NYSE:MRC) by 21.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,940 shares of the oil and gas company’s stock after selling 3,628 shares during the period. BNP Paribas Arbitrage SA’s holdings in MRC Global were worth $226,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Prudential Financial Inc. grew its stake in MRC Global by 7.4% during the second quarter. Prudential Financial Inc. now owns 371,420 shares of the oil and gas company’s stock valued at $6,135,000 after acquiring an additional 25,720 shares in the last quarter. Aperio Group LLC grew its stake in shares of MRC Global by 3.0% in the 2nd quarter. Aperio Group LLC now owns 24,078 shares of the oil and gas company’s stock worth $398,000 after buying an additional 698 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of MRC Global in the 2nd quarter worth $17,961,000. Fox Run Management L.L.C. purchased a new position in shares of MRC Global in the 3rd quarter worth $448,000. Finally, Quantbot Technologies LP grew its stake in shares of MRC Global by 346.3% in the 2nd quarter. Quantbot Technologies LP now owns 65,592 shares of the oil and gas company’s stock worth $1,083,000 after buying an additional 50,894 shares in the last quarter. 94.66% of the stock is owned by institutional investors.
A number of equities analysts have commented on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $18.00 price objective on shares of MRC Global in a research note on Thursday. ValuEngine cut shares of MRC Global from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Zacks Investment Research raised shares of MRC Global from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Cowen dropped their price objective on shares of MRC Global from $24.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, November 6th. Finally, Robert W. Baird reissued a “hold” rating and issued a $21.00 price objective on shares of MRC Global in a research note on Monday, October 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $20.44.
MRC Global announced that its board has initiated a stock buyback program on Thursday, November 2nd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
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MRC Global Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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