MRC Global Inc (MRC) CEO Andrew R. Lane Sells 180,621 Shares

MRC Global Inc (NYSE:MRC) CEO Andrew R. Lane sold 180,621 shares of the stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $19.00, for a total transaction of $3,431,799.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of MRC Global Inc (NYSE MRC) opened at $18.66 on Thursday. MRC Global Inc has a 12-month low of $14.01 and a 12-month high of $22.26. The stock has a market cap of $1,760.00, a PE ratio of -66.64, a P/E/G ratio of 2.06 and a beta of 1.60. 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 for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). MRC Global had a negative net margin of 0.09% and a positive return on equity of 1.44%. analysts predict that MRC Global Inc will post 0.09 EPS for the current year.

MRC Global announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 2nd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional investors and hedge funds have recently made changes to their positions in the business. Koch Industries Inc. acquired a new stake in shares of MRC Global during the second quarter valued at about $238,000. BNP Paribas Arbitrage SA increased its position in shares of MRC Global by 328.0% during the second quarter. BNP Paribas Arbitrage SA now owns 16,568 shares of the oil and gas company’s stock valued at $274,000 after acquiring an additional 12,697 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of MRC Global during the third quarter valued at about $276,000. Suntrust Banks Inc. increased its position in shares of MRC Global by 1.2% during the second 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. Finally, Cubist Systematic Strategies LLC increased its position in shares of MRC Global by 2,026.6% during the third quarter. Cubist Systematic Strategies LLC now owns 19,288 shares of the oil and gas company’s stock valued at $337,000 after acquiring an additional 18,381 shares during the last quarter. Institutional investors and hedge funds own 94.65% of the company’s stock.

Several equities research analysts recently issued reports on MRC shares. Cowen set a $24.00 price objective on shares of MRC Global and gave the stock a “buy” rating in a research report on Friday, October 6th. Stifel Nicolaus restated a “buy” rating and set a $22.00 price objective (up from $18.00) on shares of MRC Global in a research report on Tuesday. Susquehanna Bancshares set a $21.00 price objective on shares of MRC Global and gave the stock a “buy” rating in a research report on Friday, January 12th. Robert W. Baird restated a “hold” rating and set a $21.00 price objective on shares of MRC Global in a research report on Monday, October 9th. Finally, Zacks Investment Research upgraded shares of MRC Global from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $20.67.

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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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