MRC Global Inc. (NYSE:MRC) Short Interest Update

MRC Global Inc. (NYSE:MRC) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,270,000 shares, an increase of 25.7% from the May 31st total of 1,010,000 shares. Based on an average daily volume of 525,500 shares, the short-interest ratio is currently 2.4 days.

MRC Global Stock Performance

Shares of NYSE:MRC traded up $0.41 during midday trading on Friday, reaching $12.91. The company’s stock had a trading volume of 4,817,154 shares, compared to its average volume of 494,404. The firm has a market capitalization of $1.10 billion, a PE ratio of 15.01 and a beta of 2.03. MRC Global has a twelve month low of $8.15 and a twelve month high of $14.02. The stock has a fifty day moving average of $12.58 and a 200 day moving average of $11.83. The company has a quick ratio of 0.81, a current ratio of 1.48 and a debt-to-equity ratio of 0.01.

MRC Global (NYSE:MRC) last released its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. MRC Global had a net margin of 2.97% and a return on equity of 23.60%. The company had revenue of $806.00 million for the quarter, compared to analyst estimates of $760.76 million. During the same quarter last year, the business earned $0.32 earnings per share. The firm’s revenue was down 8.9% on a year-over-year basis. On average, equities analysts expect that MRC Global will post 1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Grant R. Bates sold 35,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $13.57, for a total transaction of $474,950.00. Following the completion of the sale, the insider now owns 110,191 shares of the company’s stock, valued at approximately $1,495,291.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Grant R. Bates sold 35,000 shares of MRC Global stock in a transaction on Monday, May 20th. The shares were sold at an average price of $13.57, for a total transaction of $474,950.00. Following the transaction, the insider now owns 110,191 shares in the company, valued at approximately $1,495,291.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John P. Mccarthy sold 11,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $13.78, for a total transaction of $151,580.00. Following the completion of the sale, the insider now owns 85,674 shares in the company, valued at approximately $1,180,587.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,698 shares of company stock valued at $1,242,374. Company insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On MRC Global

Hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its stake in shares of MRC Global by 24.9% in the 3rd quarter. American Century Companies Inc. now owns 1,989,178 shares of the oil and gas company’s stock valued at $20,389,000 after buying an additional 397,145 shares during the period. Beryl Capital Management LLC purchased a new stake in MRC Global in the fourth quarter valued at $1,881,000. Appian Way Asset Management LP purchased a new stake in MRC Global in the fourth quarter valued at $4,745,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of MRC Global by 303.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,740 shares of the oil and gas company’s stock valued at $1,176,000 after purchasing an additional 86,333 shares during the last quarter. Finally, Engine Capital Management LP grew its holdings in shares of MRC Global by 30.0% during 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 purchasing an additional 891,454 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MRC has been the topic of several analyst reports. Susquehanna reiterated a “positive” rating and set a $16.00 price target on shares of MRC Global in a report on Wednesday. StockNews.com raised shares of MRC Global from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $15.67.

MRC Global Company Profile

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.