Shares of MRC Global Inc. (NYSE:MRC) fell 0.4% on Tuesday . The company traded as low as $14.61 and last traded at $15.71. 772,000 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 888,224 shares. The stock had previously closed at $15.77.

A number of research firms have recently weighed in on MRC. Zacks Investment Research downgraded shares of MRC Global from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating and issued a $20.00 target price on shares of MRC Global in a report on Tuesday, October 17th. Robert W. Baird restated a “hold” rating and issued a $21.00 target price on shares of MRC Global in a report on Monday, October 9th. Cowen and Company set a $24.00 target price on shares of MRC Global and gave the stock a “buy” rating in a report on Friday, October 6th. Finally, J P Morgan Chase & Co reduced their target price 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $20.67.

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 share repurchase program on Thursday, November 2nd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in MRC Global by 12.5% in the 1st quarter. Vanguard Group Inc. now owns 8,073,947 shares of the oil and gas company’s stock valued at $147,994,000 after buying an additional 894,581 shares during the period. BlackRock Inc. boosted its position in MRC Global by 8.9% in the 2nd quarter. BlackRock Inc. now owns 7,758,258 shares of the oil and gas company’s stock valued at $128,164,000 after buying an additional 632,231 shares during the period. FMR LLC boosted its position in MRC Global by 1.8% in the 2nd quarter. FMR LLC now owns 6,270,253 shares of the oil and gas company’s stock valued at $103,585,000 after buying an additional 108,278 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in MRC Global by 0.5% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 3,781,986 shares of the oil and gas company’s stock valued at $66,147,000 after buying an additional 17,140 shares during the period. Finally, Citadel Advisors LLC boosted its position in MRC Global by 60.9% in the 3rd quarter. Citadel Advisors LLC now owns 3,078,500 shares of the oil and gas company’s stock valued at $53,844,000 after buying an additional 1,164,950 shares during the period. 95.48% of the stock is owned by institutional investors.

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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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