MRC Global (MRC) Shares Down 2.2%

Shares of MRC Global (NYSE:MRC) dropped 2.2% on Friday . The stock traded as low as $17.10 and last traded at $16.76. Approximately 267,237 shares traded hands during trading, a decline of 59% from the average daily volume of 659,662 shares. The stock had previously closed at $17.13.

MRC has been the topic of several research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $18.00 price objective on shares of MRC Global in a research report on Thursday, December 14th. Zacks Investment Research cut MRC Global from a “hold” rating to a “strong sell” rating in a research report on Monday, January 8th. Susquehanna Bancshares set a $21.00 price objective on MRC Global and gave the company a “buy” rating in a research report on Friday, January 12th. Alembic Global Advisors reaffirmed a “buy” rating on shares of MRC Global in a research report on Friday, January 19th. Finally, ValuEngine cut MRC Global from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. MRC Global currently has an average rating of “Buy” and a consensus target price of $20.56.

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The company has a quick ratio of 1.10, a current ratio of 2.35 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $1,648.83, a PE ratio of 62.41, a P/E/G ratio of 1.69 and a beta of 1.56.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). MRC Global had a return on equity of 3.54% and a net margin of 1.37%. The company had revenue of $903.00 million during the quarter, compared to the consensus estimate of $907.63 million. During the same period in the prior year, the firm earned ($0.18) earnings per share. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. equities research analysts expect that MRC Global will post 0.71 EPS for the current fiscal year.

In other news, Director Barbara J. Duganier sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $17.49, for a total value of $52,470.00. Following the sale, the director now directly owns 21,262 shares of the company’s stock, valued at approximately $371,872.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew R. Lane sold 180,621 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $19.00, for a total value of $3,431,799.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 476,775 shares of company stock worth $9,054,195. Insiders own 6.30% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of MRC. Nationwide Fund Advisors boosted its position in shares of MRC Global by 6.4% in the 3rd quarter. Nationwide Fund Advisors now owns 250,078 shares of the oil and gas company’s stock worth $4,374,000 after purchasing an additional 15,147 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in MRC Global by 56.4% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 49,030 shares of the oil and gas company’s stock valued at $858,000 after acquiring an additional 17,690 shares in the last quarter. SG Americas Securities LLC lifted its position in MRC Global by 34.2% in the 3rd quarter. SG Americas Securities LLC now owns 64,795 shares of the oil and gas company’s stock valued at $1,133,000 after acquiring an additional 16,520 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in MRC Global in the 3rd quarter valued at approximately $276,000. Finally, American International Group Inc. lifted its position in MRC Global by 8.1% in the 3rd quarter. American International Group Inc. now owns 59,936 shares of the oil and gas company’s stock valued at $1,048,000 after acquiring an additional 4,481 shares in the last quarter. 98.43% of the stock is currently owned by hedge funds and other 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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