South Dakota Investment Council Sells 92,998 Shares of MRC Global Inc. (NYSE:MRC)

South Dakota Investment Council lowered its stake in shares of MRC Global Inc. (NYSE:MRC) by 43.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 121,671 shares of the oil and gas company’s stock after selling 92,998 shares during the period. South Dakota Investment Council owned approximately 0.14% of MRC Global worth $1,555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Longboard Asset Management LP bought a new stake in MRC Global during the fourth quarter worth $134,000. MQS Management LLC bought a new stake in shares of MRC Global in the 3rd quarter worth $154,000. EP Wealth Advisors LLC bought a new stake in shares of MRC Global in the 3rd quarter worth $167,000. Ieq Capital LLC purchased a new stake in shares of MRC Global in the fourth quarter valued at about $187,000. Finally, Intech Investment Management LLC bought a new position in shares of MRC Global during the third quarter valued at about $193,000. 94.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MRC shares. StockNews.com lowered shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 9th. Susquehanna increased their price target on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Thursday, November 7th.

MRC Global Price Performance

Shares of NYSE:MRC opened at $12.19 on Monday. The company has a market capitalization of $1.04 billion, a P/E ratio of 14.01 and a beta of 1.97. The company’s 50-day moving average is $13.51 and its 200 day moving average is $13.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. MRC Global Inc. has a fifty-two week low of $11.09 and a fifty-two week high of $15.41.

MRC Global declared that its Board of Directors has approved a share repurchase plan on Friday, January 3rd that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 11% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.