ZWJ Investment Counsel Inc. Cuts Holdings in MRC Global Inc (MRC)

ZWJ Investment Counsel Inc. cut its stake in shares of MRC Global Inc (NYSE:MRC) by 15.2% in the 4th quarter, Holdings Channel reports. The fund owned 373,304 shares of the oil and gas company’s stock after selling 66,805 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in MRC Global were worth $6,316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. lifted its position in MRC Global by 8.9% during the second quarter. BlackRock Inc. now owns 7,758,258 shares of the oil and gas company’s stock worth $128,164,000 after acquiring an additional 632,231 shares during the last quarter. FMR LLC increased its holdings in shares of MRC Global by 1.8% during the second quarter. FMR LLC now owns 6,270,253 shares of the oil and gas company’s stock worth $103,585,000 after purchasing an additional 108,278 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in shares of MRC Global by 0.5% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 3,781,986 shares of the oil and gas company’s stock worth $66,147,000 after purchasing an additional 17,140 shares during the period. Citadel Advisors LLC increased its holdings in shares of MRC Global by 60.9% during the third quarter. Citadel Advisors LLC now owns 3,078,500 shares of the oil and gas company’s stock worth $53,844,000 after purchasing an additional 1,164,950 shares during the period. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of MRC Global by 1.2% during the third quarter. Frontier Capital Management Co. LLC now owns 2,567,769 shares of the oil and gas company’s stock worth $44,910,000 after purchasing an additional 30,382 shares during the period. Hedge funds and other institutional investors own 94.41% of the company’s stock.

In other news, CEO Andrew R. Lane sold 180,621 shares of the firm’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $19.00, for a total value of $3,431,799.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew R. Lane sold 293,154 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $19.00, for a total transaction of $5,569,926.00. The disclosure for this sale can be found here. 6.30% of the stock is owned by company insiders.

Shares of MRC Global Inc (NYSE:MRC) traded up $0.06 during trading on Thursday, reaching $18.04. 167,675 shares of the company’s stock were exchanged, compared to its average volume of 519,171. MRC Global Inc has a 1-year low of $14.01 and a 1-year high of $22.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.16 and a current ratio of 2.31.

MRC Global (NYSE:MRC) last announced its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). MRC Global had a positive return on equity of 1.44% and a negative net margin of 0.09%. research analysts expect that MRC Global Inc will post 0.09 earnings per share for the current fiscal year.

MRC Global announced that its board has approved a stock buyback program on Thursday, November 2nd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

MRC has been the topic of several recent research reports. Zacks Investment Research raised shares of MRC Global from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $18.00 target price on shares of MRC Global in a report on Thursday, December 14th. Cowen set a $24.00 price target on shares of MRC Global and gave the stock a “buy” rating in a report on Friday, October 6th. Robert W. Baird reissued a “hold” rating and issued a $21.00 price target on shares of MRC Global in a report on Monday, October 9th. Finally, ValuEngine lowered shares of MRC Global from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. MRC Global presently has a consensus rating of “Hold” and an average target price of $20.67.

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MRC Global Company 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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Institutional Ownership by Quarter for MRC Global (NYSE:MRC)

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