MRC Global Inc. (NYSE:MRC) Shares Acquired by Pzena Investment Management LLC

Pzena Investment Management LLC lifted its position in shares of MRC Global Inc. (NYSE:MRC) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,825,650 shares of the oil and gas company’s stock after purchasing an additional 54,859 shares during the period. Pzena Investment Management LLC owned about 6.83% of MRC Global worth $74,452,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MRC. Longboard Asset Management LP acquired a new position in shares of MRC Global during the fourth quarter worth $134,000. MQS Management LLC acquired a new position in shares of MRC Global during the third quarter worth $154,000. EP Wealth Advisors LLC acquired a new stake in MRC Global in the third quarter valued at $167,000. Ieq Capital LLC acquired a new stake in MRC Global in the fourth quarter valued at $187,000. Finally, Intech Investment Management LLC acquired a new stake in MRC Global in the third quarter valued at $193,000. 94.97% of the stock is owned by institutional investors and hedge funds.

MRC Global Trading Down 2.7 %

MRC opened at $11.25 on Tuesday. The stock has a market capitalization of $958.56 million, a PE ratio of 12.93 and a beta of 1.96. The firm’s fifty day moving average price is $13.29 and its 200 day moving average price is $13.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11. MRC Global Inc. has a 12-month low of $11.08 and a 12-month high of $15.41.

MRC Global announced that its board has initiated a stock repurchase plan on Friday, January 3rd that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 11% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

MRC Global Company 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.