MRC Global Inc. (MRC) Trading Down 2.8%
MRC Global Inc. (NYSE:MRC) shares dropped 2.8% on Tuesday . The stock traded as low as $13.77 and last traded at $13.81, with a volume of 263,936 shares traded. The stock had previously closed at $14.21.
MRC has been the subject of several research analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of MRC Global in a research report on Wednesday, May 4th. Zacks Investment Research raised MRC Global from a “sell” rating to a “hold” rating in a research report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. MRC Global currently has a consensus rating of “Hold” and an average price target of $16.33.
The stock’s market capitalization is $1.35 billion. The company’s 50 day moving average price is $14.15 and its 200 day moving average price is $12.83.
MRC Global (NYSE:MRC) last posted its quarterly earnings results on Monday, May 2nd. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. During the same quarter in the previous year, the company earned $0.28 earnings per share. The business had revenue of $783 million for the quarter, compared to analysts’ expectations of $794.69 million. The business’s quarterly revenue was down 39.4% on a year-over-year basis. On average, equities research analysts anticipate that MRC Global Inc. will post ($0.42) earnings per share for the current fiscal year.
In other MRC Global news, Director Gerard Pieter Krans sold 15,130 shares of the company’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $15.02, for a total transaction of $227,252.60. Following the completion of the sale, the director now directly owns 18,802 shares in the company, valued at $282,406.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Other hedge funds have bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. acquired a new stake in MRC Global during the fourth quarter valued at about $4,700,000. California Public Employees Retirement System raised its stake in MRC Global by 2.8% in the fourth quarter. California Public Employees Retirement System now owns 417,300 shares of the company’s stock worth $5,383,000 after buying an additional 11,500 shares in the last quarter. California State Teachers Retirement System raised its stake in MRC Global by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 190,887 shares of the company’s stock worth $2,462,000 after buying an additional 3,076 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in MRC Global by 7,216.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 238,510 shares of the company’s stock worth $3,077,000 after buying an additional 235,250 shares in the last quarter. Finally, Tweedy Browne Co. LLC raised its stake in MRC Global by 16.3% in the fourth quarter. Tweedy Browne Co. LLC now owns 5,744,935 shares of the company’s stock worth $74,110,000 after buying an additional 806,216 shares in the last quarter.
MRC Global Inc is an industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company operates through three segments: the United States of America, Canada and International. It has branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia, Australasia, the Middle East and Kazakhstan.
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