Public Employees Retirement System of Ohio Has $277,000 Holdings in MRC Global Inc. (MRC)

Public Employees Retirement System of Ohio reduced its position in shares of MRC Global Inc. (NYSE:MRC) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,747 shares of the oil and gas company’s stock after selling 618 shares during the period. Public Employees Retirement System of Ohio’s holdings in MRC Global were worth $277,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MRC. Suntrust Banks Inc. lifted its holdings in shares of MRC Global by 1.2% during the 2nd quarter. Suntrust Banks Inc. now owns 18,307 shares of the oil and gas company’s stock worth $302,000 after acquiring an additional 215 shares during the period. Aperio Group LLC lifted its holdings in shares of MRC Global by 3.0% during the 2nd quarter. Aperio Group LLC now owns 24,078 shares of the oil and gas company’s stock worth $398,000 after acquiring an additional 698 shares during the period. Broadview Advisors LLC lifted its holdings in shares of MRC Global by 0.8% during the 2nd quarter. Broadview Advisors LLC now owns 100,550 shares of the oil and gas company’s stock worth $1,661,000 after acquiring an additional 800 shares during the period. Malaga Cove Capital LLC lifted its holdings in shares of MRC Global by 1.3% during the 2nd quarter. Malaga Cove Capital LLC now owns 102,397 shares of the oil and gas company’s stock worth $1,701,000 after acquiring an additional 1,335 shares during the period. Finally, Redwood Investments LLC lifted its holdings in shares of MRC Global by 24.0% during the 2nd quarter. Redwood Investments LLC now owns 11,450 shares of the oil and gas company’s stock worth $189,000 after acquiring an additional 2,213 shares during the period. 95.48% of the stock is currently owned by institutional investors.

Several brokerages have recently weighed in on MRC. Cowen and Company increased their price objective on shares of MRC Global from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. ValuEngine lowered shares of MRC Global from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Zacks Investment Research upgraded shares of MRC Global from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price objective on shares of MRC Global in a report on Tuesday, October 17th. Finally, J P Morgan Chase & Co cut their price objective on shares of MRC Global from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $20.67.

MRC Global Inc. (NYSE:MRC) opened at $14.61 on Wednesday. MRC Global Inc. has a 1-year low of $14.61 and a 1-year high of $22.52. The company has a quick ratio of 1.16, a current ratio of 2.31 and a debt-to-equity ratio of 0.57.

MRC Global declared that its board has approved a stock buyback plan on Thursday, November 2nd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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About MRC Global

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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