MRC Global (NYSE:MRC) Sets New 12-Month Low - Time to Sell?

MRC Global Inc. (NYSE:MRC - Get Free Report)'s share price hit a new 52-week low on Thursday . The stock traded as low as $9.23 and last traded at $10.36, with a volume of 803506 shares trading hands. The stock had previously closed at $9.46.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Susquehanna dropped their price target on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a research report on Monday. Stifel Nicolaus dropped their target price on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, March 17th. StockNews.com cut shares of MRC Global from a "buy" rating to a "hold" rating in a research note on Monday, March 17th. Finally, Loop Capital decreased their price target on MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th.

MRC Global Stock Performance

The firm has a market capitalization of $879.34 million, a price-to-earnings ratio of 11.76 and a beta of 1.67. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The stock's fifty day moving average is $11.72 and its two-hundred day moving average is $12.79.

MRC Global (NYSE:MRC - Get Free Report) last posted its quarterly earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, meeting analysts' consensus estimates of $0.08. The business had revenue of $736.80 million for the quarter, compared to analysts' expectations of $726.90 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The firm's revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 EPS. On average, analysts predict that MRC Global Inc. will post 0.86 earnings per share for the current year.

MRC Global declared that its board has approved a share buyback plan on Friday, January 3rd that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 11% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On MRC Global

A number of large investors have recently bought and sold shares of MRC. Lord Abbett & CO. LLC acquired a new stake in MRC Global in the fourth quarter valued at about $10,255,000. JPMorgan Chase & Co. increased its position in MRC Global by 419.3% during the 4th quarter. JPMorgan Chase & Co. now owns 811,787 shares of the oil and gas company's stock valued at $10,375,000 after purchasing an additional 655,455 shares during the period. Norges Bank bought a new stake in MRC Global during the fourth quarter valued at $4,555,000. American Century Companies Inc. increased its holdings in MRC Global by 18.5% in the fourth quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company's stock worth $29,159,000 after purchasing an additional 356,372 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of MRC Global by 218.0% during the 4th quarter. Barclays PLC now owns 480,669 shares of the oil and gas company's stock worth $6,143,000 after buying an additional 329,500 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

About MRC Global

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.