MRC Global Inc. (NYSE:MRC) Insider Sells $474,950.00 in Stock

MRC Global Inc. (NYSE:MRC) insider Grant R. Bates sold 35,000 shares of MRC Global stock in a transaction on Monday, May 20th. The stock was sold at an average price of $13.57, for a total transaction of $474,950.00. Following the completion of the transaction, the insider now directly owns 110,191 shares of the company’s stock, valued at $1,495,291.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

MRC Global Stock Down 2.1 %

Shares of NYSE MRC opened at $13.37 on Thursday. MRC Global Inc. has a 1 year low of $8.15 and a 1 year high of $14.02. The firm has a 50-day simple moving average of $12.42 and a two-hundred day simple moving average of $11.42. The company has a market cap of $1.14 billion, a P/E ratio of 15.55 and a beta of 2.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.48 and a quick ratio of 0.81.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. MRC Global had a return on equity of 23.60% and a net margin of 2.97%. The firm had revenue of $806.00 million for the quarter, compared to the consensus estimate of $760.76 million. During the same period in the prior year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. Research analysts anticipate that MRC Global Inc. will post 0.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Susquehanna lifted their price target on MRC Global from $15.00 to $16.00 and gave the stock a “positive” rating in a research report on Friday, May 10th. Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of MRC Global in a report on Wednesday, February 14th. Finally, StockNews.com upgraded MRC Global from a “buy” rating to a “strong-buy” rating in a report on Friday, May 10th. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $15.67.

Institutional Trading of MRC Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in MRC Global by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 370,643 shares of the oil and gas company’s stock valued at $3,799,000 after buying an additional 4,685 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of MRC Global by 38.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,356 shares of the oil and gas company’s stock valued at $229,000 after acquiring an additional 6,264 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of MRC Global during the third quarter valued at approximately $114,000. Assenagon Asset Management S.A. boosted its holdings in shares of MRC Global by 26.6% in the third quarter. Assenagon Asset Management S.A. now owns 919,630 shares of the oil and gas company’s stock valued at $9,426,000 after purchasing an additional 193,136 shares during the period. Finally, Quantbot Technologies LP grew its stake in MRC Global by 188.5% in the third quarter. Quantbot Technologies LP now owns 27,987 shares of the oil and gas company’s stock worth $287,000 after purchasing an additional 18,286 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

MRC Global Company Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.