MRC Global (NYSE:MRC) Lowered to "Buy" at StockNews.com

StockNews.com downgraded shares of MRC Global (NYSE:MRC - Free Report) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.

Separately, Susquehanna reiterated a positive rating and issued a $16.00 price objective on shares of MRC Global in a report on Wednesday, June 26th.

MRC Global Price Performance

MRC stock traded up $0.01 during mid-day trading on Tuesday, hitting $11.82. 487,937 shares of the stock were exchanged, compared to its average volume of 621,758. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.48 and a quick ratio of 0.81. The business has a fifty day moving average price of $13.07 and a 200 day moving average price of $12.46. MRC Global has a 12 month low of $8.90 and a 12 month high of $14.91. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 13.74 and a beta of 2.00.

MRC Global (NYSE:MRC - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.24 by $0.07. The firm had revenue of $832.00 million for the quarter, compared to the consensus estimate of $831.32 million. MRC Global had a return on equity of 23.60% and a net margin of 2.97%. The company's quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. On average, sell-side analysts anticipate that MRC Global will post 1 EPS for the current year.

Insider Activity at MRC Global

In related news, insider Grant R. Bates sold 4,698 shares of the business's stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $13.76, for a total transaction of $64,644.48. Following the transaction, the insider now owns 145,191 shares in the company, valued at approximately $1,997,828.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Grant R. Bates sold 4,698 shares of the business's stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $13.76, for a total transaction of $64,644.48. Following the transaction, the insider now owns 145,191 shares in the company, valued at approximately $1,997,828.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Grant R. Bates sold 35,000 shares of the business's stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $13.57, for a total value of $474,950.00. Following the transaction, the insider now owns 110,191 shares in the company, valued at approximately $1,495,291.87. The disclosure for this sale can be found here. 20.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MRC. CWM LLC grew its holdings in shares of MRC Global by 308.2% during the 2nd quarter. CWM LLC now owns 2,584 shares of the oil and gas company's stock worth $33,000 after acquiring an additional 1,951 shares during the period. Innealta Capital LLC purchased a new position in shares of MRC Global during the 2nd quarter worth approximately $45,000. DekaBank Deutsche Girozentrale purchased a new position in shares of MRC Global during the 2nd quarter worth approximately $56,000. Canada Pension Plan Investment Board purchased a new position in shares of MRC Global during the 2nd quarter worth approximately $56,000. Finally, nVerses Capital LLC purchased a new position in shares of MRC Global during the 2nd quarter worth approximately $70,000. 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.