MRC Global Inc. (MRC) Shares Down 4.5%
MRC Global Inc. (NYSE:MRC) was down 4.5% during mid-day trading on Monday . The stock traded as low as $12.64 and last traded at $12.64, with a volume of 593,907 shares traded. The stock had previously closed at $13.23.
MRC has been the topic of several analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of MRC Global in a research note on Wednesday, May 4th. Zacks Investment Research raised MRC Global from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $16.33.
The stock’s 50-day moving average is $13.82 and its 200 day moving average is $12.93. The firm’s market capitalization is $1.25 billion.
MRC Global (NYSE:MRC) last posted its earnings results on Monday, May 2nd. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $783 million for the quarter, compared to analysts’ expectations of $794.69 million. The company’s revenue was down 39.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. Equities research analysts forecast that MRC Global Inc. will post ($0.44) EPS for the current fiscal year.
In other news, Director Gerard Pieter Krans sold 15,130 shares of the 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 sale, the director now directly owns 18,802 shares of the company’s stock, valued at approximately $282,406.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Other large investors have recently bought and sold shares of the company. Rhumbline Advisers raised its stake in 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 last quarter. New York State Common Retirement Fund raised its position in shares of 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 worth $2,073,000 after buying an additional 4,300 shares in the last quarter. Russell Frank Co raised its position 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 worth $2,232,000 after buying an additional 84,577 shares in the last quarter. Trexquant Investment LP bought a new position in shares of MRC Global during the fourth quarter worth $2,408,000. Finally, California State Teachers Retirement System raised its position 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 worth $2,462,000 after buying an additional 3,076 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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