MRC Global (NYSE:MRC) Cut to Buy at StockNews.com

StockNews.com cut shares of MRC Global (NYSE:MRC) from a strong-buy rating to a buy rating in a research report report published on Tuesday.

Separately, Susquehanna restated a positive rating and set a $16.00 target price on shares of MRC Global in a report on Wednesday, June 26th.

MRC Global Trading Up 2.6 %

Shares of MRC stock opened at $12.50 on Tuesday. The stock has a market capitalization of $1.06 billion, a PE ratio of 14.53 and a beta of 2.00. MRC Global has a 1-year low of $8.93 and a 1-year high of $14.91. The business has a 50-day moving average of $13.04 and a 200 day moving average of $12.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.48 and a quick ratio of 0.81.

MRC Global (NYSE:MRC) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.07. The company had revenue of $832.00 million during the quarter, compared to analysts’ expectations of $831.32 million. MRC Global had a return on equity of 23.60% and a net margin of 2.97%. MRC Global’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. As a group, sell-side analysts anticipate that MRC Global will post 1 earnings per share for the current year.

Insiders Place Their Bets

In other MRC Global news, insider Grant R. Bates sold 35,000 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $13.57, for a total value of $474,950.00. Following the completion of the sale, the insider now owns 110,191 shares in the company, valued at approximately $1,495,291.87. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of MRC Global by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock worth $115,391,000 after acquiring an additional 175,865 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of MRC Global by 5.1% in the 1st quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock worth $92,521,000 after acquiring an additional 358,580 shares in the last quarter. Engine Capital Management LP raised its position in shares of MRC Global by 30.0% in the 4th quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock worth $42,574,000 after acquiring an additional 891,454 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of MRC Global by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock worth $47,629,000 after acquiring an additional 97,445 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of MRC Global by 7,541.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,342,896 shares of the oil and gas company’s stock worth $17,337,000 after acquiring an additional 1,325,323 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

About MRC Global

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.