MRC Global Inc. (MRC) Stock Price Up 5.8%
MRC Global Inc. (NYSE:MRC) shares rose 5.8% on Wednesday . The company traded as high as $13.24 and last traded at $13.21, with a volume of 715,691 shares changing hands. The stock had previously closed at $12.49.
MRC has been the topic of a number of recent research reports. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of MRC Global in a research report on Wednesday, May 4th. Zacks Investment Research upgraded shares of MRC Global from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. Capital One Financial Corp. upgraded shares of MRC Global from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. Finally, Maxim Group upgraded shares of MRC Global from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $16.00.
The stock has a 50 day moving average price of $13.76 and a 200 day moving average price of $12.96. The company’s market capitalization is $1.43 billion.
MRC Global (NYSE:MRC) last announced its earnings results on Tuesday, August 2nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.07. During the same period in the prior year, the firm earned $0.22 earnings per share. The business earned $746 million during the quarter, compared to analysts’ expectations of $747.81 million. The firm’s revenue for the quarter was down 37.7% on a year-over-year basis. Equities research analysts expect that MRC Global Inc. will post ($0.55) EPS for the current year.
In other MRC Global news, Director Gerard Pieter Krans sold 39,000 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $14.50, for a total transaction of $565,500.00. Following the completion of the sale, the director now owns 18,802 shares of the company’s stock, valued at $272,629. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Other large investors recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of MRC Global by 27.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,542,285 shares of the company’s stock worth $71,495,000 after buying an additional 1,193,366 shares during the last quarter. Trexquant Investment LP acquired a new stake in MRC Global during the fourth quarter valued at $2,408,000. Wells Fargo & Company MN boosted its stake in MRC Global by 6.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,528,897 shares of the company’s stock valued at $19,723,000 after buying an additional 92,524 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in MRC Global during the fourth quarter valued at $4,700,000. Finally, New York State Common Retirement Fund boosted its stake in MRC Global by 2.7% in the fourth quarter. New York State Common Retirement Fund now owns 160,693 shares of the company’s stock valued at $2,073,000 after buying an additional 4,300 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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