MRC Global Inc. (MRC) Shares Down 2.7%
MRC Global Inc. (NYSE:MRC) fell 2.7% during mid-day trading on Thursday . The company traded as low as $14.20 and last traded at $14.27, with a volume of 462,278 shares changing hands. The stock had previously closed at $14.67.
A number of research analysts have commented on MRC shares. JPMorgan Chase & Co. restated a “buy” rating on shares of MRC Global in a research note on Wednesday, May 4th. Zacks Investment Research upgraded MRC Global from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. Maxim Group upgraded 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, August 4th. Finally, Capital One Financial Corp. upgraded MRC Global from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. MRC Global currently has a consensus rating of “Hold” and a consensus target price of $16.00.
The firm’s market cap is $1.37 billion. The company has a 50-day moving average of $14.23 and a 200-day moving average of $13.69.
MRC Global (NYSE:MRC) last released its earnings results on Tuesday, August 2nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by $0.07. The firm earned $746 million during the quarter, compared to the consensus estimate of $747.81 million. During the same period in the prior year, the firm earned $0.22 EPS. The firm’s quarterly revenue was down 37.7% on a year-over-year basis. On average, equities analysts forecast that MRC Global Inc. will post ($0.59) EPS for the current year.
In other news, EVP Daniel J. Churay sold 5,350 shares of the company’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $14.77, for a total value of $79,019.50. Following the transaction, the executive vice president now directly owns 46,292 shares of the company’s stock, valued at $683,732.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerard Pieter Krans sold 23,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $15.33, for a total transaction of $352,590.00. Following the completion of the transaction, the director now directly owns 18,802 shares in the company, valued at $288,234.66. The disclosure for this sale can be found here.
An institutional investor recently raised its position in MRC Global stock. New York State Common Retirement Fund increased its position in MRC Global Inc. (NYSE:MRC) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,693 shares of the company’s stock after buying an additional 4,300 shares during the period. New York State Common Retirement Fund owned approximately 0.16% of MRC Global worth $2,073,000 as of its most recent SEC filing.
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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