StockNews.com Lowers MRC Global (NYSE:MRC) to Buy

MRC Global (NYSE:MRC) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Separately, Susquehanna restated a “positive” rating and issued a $16.00 price target on shares of MRC Global in a research note on Wednesday, June 26th.

MRC Global Stock Performance

Shares of NYSE MRC opened at $12.18 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.48 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $13.05 and its two-hundred day moving average price is $12.46. MRC Global has a 52-week low of $8.90 and a 52-week high of $14.91. The stock has a market capitalization of $1.04 billion, a P/E ratio of 14.16 and a beta of 2.00.

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

Insider Buying and Selling at MRC Global

In related news, insider Grant R. Bates sold 35,000 shares of the firm’s stock in a transaction that occurred 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 $1,495,291.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Grant R. Bates sold 35,000 shares of the firm’s stock in a transaction that occurred 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 $1,495,291.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Grant R. Bates sold 4,698 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $13.76, for a total transaction of $64,644.48. Following the transaction, the insider now owns 145,191 shares in the company, valued at approximately $1,997,828.16. The disclosure for this sale can be found here. 20.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in shares of MRC Global in the first quarter valued at $963,000. Beryl Capital Management LLC bought a new position in shares of MRC Global in the fourth quarter valued at $1,881,000. Appian Way Asset Management LP bought a new position in shares of MRC Global in the fourth quarter valued at $4,745,000. Engine Capital Management LP increased its holdings in shares of MRC Global by 30.0% in the fourth quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock valued at $42,574,000 after buying an additional 891,454 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of MRC Global in the first quarter valued at $201,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

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.