MRC Global Inc. (MRC) Stock Price Up 5.8%
Shares of MRC Global Inc. (NYSE:MRC) rose 5.8% on Wednesday . The stock 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 several recent analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of MRC Global in a report on Wednesday, May 4th. Zacks Investment Research raised MRC Global from a “sell” rating to a “hold” rating in a report on Friday, May 6th. Finally, Capital One Financial Corp. raised MRC Global from an “equal weight” rating to an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. MRC Global has an average rating of “Hold” and an average target price of $16.33.
The company’s market cap is $1.34 billion. The stock has a 50-day moving average of $13.77 and a 200-day moving average of $12.95.
MRC Global (NYSE:MRC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by $0.07. The business earned $746 million during the quarter, compared to analyst estimates of $747.81 million. During the same period in the previous year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was down 37.7% compared to the same quarter last year. Equities research analysts predict that MRC Global Inc. will post ($0.44) earnings per share for the current year.
In other MRC Global news, Director Gerard Pieter Krans sold 15,130 shares of the business’s stock in a transaction dated Thursday, June 9th. The stock was 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 owns 18,802 shares of the company’s stock, valued at $282,406.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of hedge funds recently added to or reduced their stakes in MRC. 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 in the last quarter. New York State Common Retirement Fund increased 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 valued at $2,073,000 after buying an additional 4,300 shares during the last quarter. California Public Employees Retirement System increased its position in shares of MRC Global by 2.8% in the fourth quarter. California Public Employees Retirement System now owns 417,300 shares of the company’s stock valued at $5,383,000 after buying an additional 11,500 shares during the last quarter. Russell Frank Co increased 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 valued at $2,232,000 after buying an additional 84,577 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of 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 during 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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