MRC Global Inc. (NYSE:MRC) Short Interest Up 25.7% in June

MRC Global Inc. (NYSE:MRC) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 1,270,000 shares, an increase of 25.7% from the May 31st total of 1,010,000 shares. Based on an average daily trading volume, of 525,500 shares, the days-to-cover ratio is currently 2.4 days.

MRC Global Stock Performance

Shares of MRC Global stock traded down $0.04 during trading hours on Tuesday, hitting $12.63. 365,053 shares of the company were exchanged, compared to its average volume of 598,846. MRC Global has a 1 year low of $8.15 and a 1 year high of $14.02. The company has a current ratio of 1.48, a quick ratio of 0.81 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average of $12.60 and a 200-day moving average of $11.85. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 14.69 and a beta of 2.00.

MRC Global (NYSE:MRC) last announced its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $760.76 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. MRC Global’s quarterly revenue was down 8.9% on a year-over-year basis. As a group, analysts expect that MRC Global will post 1 EPS for the current fiscal year.

Insider Transactions at MRC Global

In related news, Director Leonard M. Anthony sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $13.78, for a total transaction of $551,200.00. Following the completion of the sale, the director now 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 available through the SEC website. In related news, insider Grant R. Bates sold 35,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 110,191 shares in the company, valued at $1,495,291.87. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leonard M. Anthony sold 40,000 shares of the business’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 sale, the director now owns 101,120 shares of the company’s stock, valued at approximately $1,393,433.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,698 shares of company stock valued at $1,242,374. 20.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Gladius Capital Management LP acquired a new position in MRC Global during the third quarter worth $33,000. New York State Teachers Retirement System acquired a new position in MRC Global during the first quarter worth $94,000. Mackenzie Financial Corp acquired a new stake in MRC Global in the fourth quarter valued at $120,000. Sequoia Financial Advisors LLC acquired a new stake in MRC Global in the fourth quarter valued at $122,000. Finally, Victory Capital Management Inc. acquired a new stake in MRC Global in the fourth quarter valued at $122,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com upgraded MRC Global from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 10th. Susquehanna restated a “positive” rating and set a $16.00 price target on shares of MRC Global in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $15.67.

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.