IndexIQ Advisors LLC Has $827,000 Holdings in MRC Global Inc. (MRC)

IndexIQ Advisors LLC raised its position in shares of MRC Global Inc. (NYSE:MRC) by 83.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,283 shares of the oil and gas company’s stock after purchasing an additional 21,455 shares during the quarter. IndexIQ Advisors LLC owned 0.05% of MRC Global worth $827,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Suntrust Banks Inc. boosted 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 valued at $302,000 after acquiring an additional 215 shares during the last quarter. Aperio Group LLC boosted 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 valued at $398,000 after acquiring an additional 698 shares during the last quarter. Broadview Advisors LLC boosted 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 valued at $1,661,000 after acquiring an additional 800 shares during the last quarter. Malaga Cove Capital LLC boosted 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 valued at $1,701,000 after acquiring an additional 1,335 shares during the last quarter. Finally, Redwood Investments LLC boosted 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 valued at $189,000 after acquiring an additional 2,213 shares during the last quarter. Institutional investors and hedge funds own 95.48% of the company’s stock.

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MRC Global Inc. (NYSE:MRC) opened at $15.77 on Monday. The company has a current ratio of 2.31, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. MRC Global Inc. has a 1-year low of $14.78 and a 1-year high of $22.52.

MRC Global declared that its board has initiated a share repurchase program 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. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

A number of brokerages have recently issued reports on MRC. ValuEngine downgraded shares of MRC Global from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research raised shares of MRC Global from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Cowen and Company dropped their price target on shares of MRC Global from $24.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price target on shares of MRC Global in a report on Tuesday, October 17th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $21.00 price target on shares of MRC Global in a report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, five have issued 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 target price of $20.67.

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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