MRC Global (MRC) Sets New 12-Month High at $22.16

MRC Global Inc (NYSE:MRC) hit a new 52-week high during trading on Tuesday . The company traded as high as $22.16 and last traded at $21.72, with a volume of 13759 shares changing hands. The stock had previously closed at $21.81.

A number of equities research analysts have recently commented on MRC shares. Stifel Nicolaus cut their price objective on MRC Global from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, April 16th. Susquehanna Bancshares set a $22.00 target price on MRC Global and gave the company a “buy” rating in a report on Friday, April 13th. ValuEngine upgraded MRC Global from a “sell” rating to a “hold” rating in a report on Thursday, April 19th. Finally, Zacks Investment Research upgraded MRC Global from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Wednesday, April 25th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price 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 capitalization of $1.94 billion, a price-to-earnings ratio of 717.67, a price-to-earnings-growth ratio of 1.67 and a beta of 1.53.

MRC Global (NYSE:MRC) last posted its quarterly earnings results on Wednesday, May 2nd. The oil and gas company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.04. MRC Global had a net margin of 1.63% and a return on equity of 5.13%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $948.42 million. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. equities research analysts predict that MRC Global Inc will post 0.87 EPS for the current fiscal year.

In other MRC Global news, CEO Andrew R. Lane sold 293,155 shares of the stock in a transaction on Friday, April 20th. The shares were sold at an average price of $19.00, for a total transaction of $5,569,945.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Andrew R. Lane sold 226,864 shares of the stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $20.49, for a total transaction of $4,648,443.36. The disclosure for this sale can be found here. Insiders sold 1,069,932 shares of company stock worth $21,036,562 over the last ninety days. 7.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Verition Fund Management LLC increased its position in MRC Global by 22.1% during the first quarter. Verition Fund Management LLC now owns 13,935 shares of the oil and gas company’s stock worth $229,000 after buying an additional 2,525 shares during the last quarter. S&CO Inc. increased its position in MRC Global by 3.4% during the first quarter. S&CO Inc. now owns 111,725 shares of the oil and gas company’s stock worth $1,837,000 after buying an additional 3,700 shares during the last quarter. Principal Financial Group Inc. increased its position in MRC Global by 10.3% during the first quarter. Principal Financial Group Inc. now owns 45,544 shares of the oil and gas company’s stock worth $749,000 after buying an additional 4,235 shares during the last quarter. Northern Trust Corp grew its position in shares of MRC Global by 0.4% in the first quarter. Northern Trust Corp now owns 1,121,413 shares of the oil and gas company’s stock valued at $18,436,000 after purchasing an additional 4,310 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in shares of MRC Global by 54.6% in the first quarter. Xact Kapitalforvaltning AB now owns 16,711 shares of the oil and gas company’s stock valued at $275,000 after purchasing an additional 5,900 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

About MRC Global

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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