MRC Global (NYSE:MRC) Reaches New 1-Year Low – What’s Next?

MRC Global Inc. (NYSE:MRC)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $11.04 and last traded at $11.06, with a volume of 101715 shares traded. The stock had previously closed at $11.30.

MRC Global Trading Up 3.1 %

The company’s fifty day moving average is $13.23 and its two-hundred day moving average is $13.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. The company has a market cap of $976.37 million, a price-to-earnings ratio of 13.17 and a beta of 1.96.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company had revenue of $736.80 million for the quarter, compared to the consensus estimate of $726.90 million. During the same quarter in the prior year, the company earned $0.23 EPS. MRC Global’s quarterly revenue was down 10.3% on a year-over-year basis. On average, research analysts anticipate that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global announced that its Board of Directors has approved a share repurchase program on Friday, January 3rd that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 11% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On MRC Global

A number of hedge funds and other institutional investors have recently made changes to their positions in MRC. Huntington National Bank purchased a new position in shares of MRC Global during the 4th quarter valued at approximately $34,000. Sterling Capital Management LLC increased its stake in shares of MRC Global by 821.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 2,406 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of MRC Global in the 4th quarter worth $56,000. Quantinno Capital Management LP acquired a new stake in shares of MRC Global in the 4th quarter worth $129,000. Finally, Longboard Asset Management LP acquired a new stake in shares of MRC Global in the 4th quarter worth $134,000. Institutional investors and hedge funds 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.