MRC Global Inc. (MRC) Trading Down 6.5%
Shares of MRC Global Inc. (NYSE:MRC) fell 6.5% on Tuesday . The stock traded as low as $13.39 and last traded at $13.44, with a volume of 272,483 shares traded. The stock had previously closed at $14.37.
Several research firms have weighed in on MRC. Zacks Investment Research downgraded shares of MRC Global from a “hold” rating to a “sell” rating in a research report on Tuesday. JPMorgan Chase & Co. reissued a “buy” rating on shares of MRC Global in a research report on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.33.
The firm’s market capitalization is $1.36 billion. The company’s 50 day moving average is $14.02 and its 200 day moving average is $12.75.
MRC Global (NYSE:MRC) last issued its quarterly earnings results on Monday, May 2nd. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. The business had revenue of $783 million for the quarter, compared to analyst estimates of $794.69 million. During the same period in the prior year, the company posted $0.28 EPS. The firm’s revenue for the quarter was down 39.4% compared to the same quarter last year. On average, equities analysts predict that MRC Global Inc. will post ($0.42) earnings per share for the current year.
In related news, Director Gerard Pieter Krans sold 39,000 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $14.50, for a total value of $565,500.00. Following the sale, the director now owns 18,802 shares of the company’s stock, valued at $272,629. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
A number of hedge funds have recently modified their holdings of MRC. Russell Frank Co boosted its stake in shares of MRC Global by 95.6% in the fourth quarter. Russell Frank Co now owns 173,016 shares of the company’s stock valued at $2,232,000 after buying an additional 84,577 shares during the period. Nationwide Fund Advisors boosted its stake in shares of MRC Global by 171.6% in the fourth quarter. Nationwide Fund Advisors now owns 206,174 shares of the company’s stock valued at $2,660,000 after buying an additional 130,253 shares during the period. California State Teachers Retirement System boosted its stake in shares of MRC Global by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 190,887 shares of the company’s stock valued at $2,462,000 after buying an additional 3,076 shares during the period. Rhumbline Advisers boosted its stake in shares of MRC Global by 3.1% in the fourth quarter. Rhumbline Advisers now owns 138,683 shares of the company’s stock valued at $1,789,000 after buying an additional 4,110 shares during the period. Finally, Oxford Asset Management boosted its stake in shares of MRC Global by 19.1% in the fourth quarter. Oxford Asset Management now owns 375,407 shares of the company’s stock valued at $4,862,000 after buying an additional 60,274 shares during the period.
MRC Global Inc is a global industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company offers products that are used in the construction, maintenance, repair and overhaul of equipment used in extreme operating conditions, such as high pressure, high/low temperature and high corrosive and abrasive environments.
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