Susquehanna Reaffirms “Positive” Rating for MRC Global (NYSE:MRC)

Susquehanna reiterated their positive rating on shares of MRC Global (NYSE:MRC) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $16.00 price objective on the oil and gas company’s stock.

Separately, StockNews.com raised MRC Global from a buy rating to a strong-buy rating in a report on Friday, May 10th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Buy and an average price target of $15.67.

MRC Global Stock Performance

Shares of MRC stock opened at $12.91 on Wednesday. The firm has a market capitalization of $1.10 billion, a PE ratio of 15.01 and a beta of 2.03. The company has a 50 day moving average price of $12.58 and a 200-day moving average price of $11.81. MRC Global has a 52 week low of $8.15 and a 52 week high of $14.02. The company has a quick ratio of 0.81, a current ratio of 1.48 and a debt-to-equity ratio of 0.01.

MRC Global (NYSE:MRC) last announced its earnings results on Wednesday, May 8th. The oil and gas company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $806.00 million during the quarter, compared to analyst estimates of $760.76 million. MRC Global had a net margin of 2.97% and a return on equity of 23.60%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. As a group, equities research analysts expect that MRC Global will post 1 earnings per share for the current year.

Insider Transactions at MRC Global

In other news, Director Leonard M. Anthony sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $13.78, for a total value of $551,200.00. Following the transaction, the director now owns 101,120 shares of the company’s stock, valued at $1,393,433.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other MRC Global news, Director Leonard M. Anthony sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $13.78, for a total value of $551,200.00. Following the completion of the transaction, the director now directly owns 101,120 shares in the company, valued at $1,393,433.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John P. Mccarthy sold 11,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $13.78, for a total transaction of $151,580.00. Following the sale, the insider now owns 85,674 shares in the company, valued at $1,180,587.72. The disclosure for this sale can be found here. Insiders sold 90,698 shares of company stock worth $1,242,374 in the last three months. Corporate insiders own 20.90% of the company’s stock.

Institutional Trading of MRC Global

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of MRC Global by 2.0% during the first quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock valued at $115,391,000 after buying an additional 175,865 shares during the last quarter. Pzena Investment Management LLC increased its holdings in MRC Global by 5.1% in the 1st quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock valued at $92,521,000 after acquiring an additional 358,580 shares during the last quarter. Engine Capital Management LP lifted its stake in MRC Global by 30.0% in the 4th quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock worth $42,574,000 after purchasing an additional 891,454 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of MRC Global by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,327,337 shares of the oil and gas company’s stock valued at $36,635,000 after purchasing an additional 36,845 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of MRC Global by 22.9% during the third quarter. Wellington Management Group LLP now owns 3,010,991 shares of the oil and gas company’s stock valued at $30,863,000 after purchasing an additional 561,706 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

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.