MRC Global Inc (NYSE:MRC) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $22.16 and last traded at $21.72, with a volume of 13759 shares trading hands. The stock had previously closed at $21.81.
MRC has been the topic of several research analyst reports. ValuEngine downgraded MRC Global from a “buy” rating to a “hold” rating in a research report on Monday. Susquehanna Bancshares set a $22.00 target price on shares of MRC Global and gave the company a “buy” rating in a research note on Friday, April 13th. Zacks Investment Research upgraded shares of MRC Global from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday, April 25th. Finally, Stifel Nicolaus reduced their target price on shares of MRC Global from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 16th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $21.00.
The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.08 and a current ratio of 2.30. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 717.67, a PEG ratio of 1.67 and a beta of 1.53.
MRC Global (NYSE:MRC) last announced its quarterly earnings results on Wednesday, May 2nd. The oil and gas company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $948.42 million. MRC Global had a net margin of 1.63% and a return on equity of 5.13%. The company’s quarterly revenue was up 17.2% on a year-over-year basis. equities analysts expect that MRC Global Inc will post 0.87 earnings per share for the current fiscal year.
In related news, CEO Andrew R. Lane sold 226,864 shares of the firm’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $20.49, for a total value of $4,648,443.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew R. Lane sold 46,749 shares of the firm’s stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $19.00, for a total transaction of $888,231.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,069,932 shares of company stock valued at $21,036,562. Corporate insiders own 7.00% of the company’s stock.
Several institutional investors have recently modified their holdings of MRC. Teacher Retirement System of Texas acquired a new stake in shares of MRC Global in the fourth quarter valued at approximately $541,000. California Public Employees Retirement System increased its holdings in shares of MRC Global by 2.3% in the fourth quarter. California Public Employees Retirement System now owns 326,693 shares of the oil and gas company’s stock valued at $5,528,000 after purchasing an additional 7,333 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of MRC Global by 13.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 93,012 shares of the oil and gas company’s stock valued at $1,574,000 after purchasing an additional 10,778 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of MRC Global by 10.0% in the fourth quarter. Mackenzie Financial Corp now owns 976,000 shares of the oil and gas company’s stock valued at $16,514,000 after purchasing an additional 89,000 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of MRC Global by 28.5% in the fourth quarter. Alliancebernstein L.P. now owns 4,845,387 shares of the oil and gas company’s stock valued at $81,984,000 after purchasing an additional 1,074,208 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.
MRC Global Company Profile
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.
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