Several other brokerages also recently commented on MRC. Zacks Investment Research downgraded shares of MRC Global from a hold rating to a sell rating in a research note on Tuesday, October 17th. Stifel Nicolaus reaffirmed a buy rating and issued a $20.00 target price on shares of MRC Global in a research note on Tuesday, October 17th. ValuEngine downgraded shares of MRC Global from a hold rating to a sell rating in a research note on Thursday, November 9th. Robert W. Baird reaffirmed a hold rating and issued a $21.00 target price on shares of MRC Global in a research note on Monday, October 9th. Finally, Cowen set a $24.00 target price on shares of MRC Global and gave the stock a buy rating in a research note on Friday, October 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $20.67.
Shares of MRC Global (NYSE MRC) traded up $0.31 during midday trading on Friday, hitting $18.81. 538,800 shares of the company traded hands, compared to its average volume of 555,477. The company has a current ratio of 2.31, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. MRC Global has a 12 month low of $14.01 and a 12 month high of $22.26. The stock has a market capitalization of $1,780.00, a P/E ratio of -67.18, a price-to-earnings-growth ratio of 1.98 and a beta of 1.60.
MRC Global declared that its Board of Directors has initiated a share buyback plan on Thursday, November 2nd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In other MRC Global news, CEO Andrew R. Lane sold 293,154 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $19.00, for a total transaction of $5,569,926.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew R. Lane sold 180,621 shares of the business’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $19.00, for a total transaction of $3,431,799.00. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new stake in shares of MRC Global during the 3rd quarter valued at $276,000. Suntrust Banks Inc. boosted its holdings in shares of MRC Global by 1.2% during the 2nd quarter. Suntrust Banks Inc. now owns 18,307 shares of the oil and gas company’s stock valued at $302,000 after buying an additional 215 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of MRC Global by 2,026.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 19,288 shares of the oil and gas company’s stock valued at $337,000 after buying an additional 18,381 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of MRC Global during the 3rd quarter valued at $448,000. Finally, Alpha Windward LLC boosted its holdings in shares of MRC Global by 33.7% during the 3rd quarter. Alpha Windward LLC now owns 29,760 shares of the oil and gas company’s stock valued at $521,000 after buying an additional 7,500 shares in the last quarter. 94.01% of the stock is currently owned by institutional investors and hedge funds.
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MRC Global Company Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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