MRC Global (NYSE:MRC) Trading Down 5.2% - Here's What Happened

MRC Global Inc. (NYSE:MRC - Get Free Report)'s share price fell 5.2% during mid-day trading on Monday . The company traded as low as $14.09 and last traded at $14.11. 1,506,396 shares were traded during trading, an increase of 129% from the average session volume of 656,633 shares. The stock had previously closed at $14.89.

Analysts Set New Price Targets

A number of equities research analysts have commented on MRC shares. Susquehanna reduced their price target on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a report on Monday, April 14th. Loop Capital cut their price objective on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Stifel Nicolaus boosted their target price on MRC Global from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Friday. Finally, Wall Street Zen raised MRC Global from a "hold" rating to a "buy" rating in a research note on Friday, June 6th.

MRC Global Stock Performance

The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -121.55 and a beta of 1.61. The company's fifty day simple moving average is $12.55 and its two-hundred day simple moving average is $12.49. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.68 and a quick ratio of 0.91.

MRC Global (NYSE:MRC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.06. The company had revenue of $712.00 million for the quarter, compared to analyst estimates of $710.00 million. MRC Global had a net margin of 0.47% and a return on equity of 12.82%. The firm's revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 EPS. On average, analysts forecast that MRC Global Inc. will post 0.86 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MRC. Vanguard Group Inc. lifted its stake in MRC Global by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 9,390,014 shares of the oil and gas company's stock valued at $120,004,000 after acquiring an additional 42,331 shares in the last quarter. Pzena Investment Management LLC raised its holdings in shares of MRC Global by 1.0% in the fourth quarter. Pzena Investment Management LLC now owns 5,825,650 shares of the oil and gas company's stock valued at $74,452,000 after purchasing an additional 54,859 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of MRC Global by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,827,433 shares of the oil and gas company's stock valued at $48,914,000 after purchasing an additional 164,973 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of MRC Global by 336.0% during the first quarter. Lord Abbett & CO. LLC now owns 3,498,499 shares of the oil and gas company's stock valued at $40,163,000 after purchasing an additional 2,696,044 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in MRC Global by 5.4% during the first quarter. Wellington Management Group LLP now owns 3,105,144 shares of the oil and gas company's stock worth $35,647,000 after purchasing an additional 158,338 shares during 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.