MRC Global (NYSE:MRC) Shares Gap Up to $11.83

MRC Global Inc. (NYSE:MRC)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $11.83, but opened at $12.44. MRC Global shares last traded at $12.16, with a volume of 73,090 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. StockNews.com downgraded MRC Global from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Susquehanna reissued a “positive” rating and issued a $16.00 price target on shares of MRC Global in a research note on Wednesday, June 26th.

MRC Global Trading Up 1.8 %

The firm has a fifty day moving average price of $13.07 and a 200-day moving average price of $12.46. The company has a market capitalization of $1.02 billion, a P/E ratio of 13.74 and a beta of 2.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.48 and a quick ratio of 0.81.

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

Insider Transactions at MRC Global

In other news, insider Grant R. Bates sold 35,000 shares of MRC Global 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 completion of the transaction, the insider now owns 110,191 shares in the company, valued at $1,495,291.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Grant R. Bates sold 4,698 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $13.76, for a total transaction of $64,644.48. Following the sale, the insider now directly owns 145,191 shares in the company, valued at approximately $1,997,828.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Grant R. Bates sold 35,000 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $13.57, for a total value of $474,950.00. Following the sale, the insider now directly 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 corporate insiders.

Institutional Trading of MRC Global

A number of hedge funds and other institutional investors have recently bought and sold shares of MRC. Acadian Asset Management LLC bought a new position in MRC Global in the 1st quarter worth about $963,000. Beryl Capital Management LLC bought a new position in shares of MRC Global in the fourth quarter worth approximately $1,881,000. Appian Way Asset Management LP purchased a new stake in MRC Global in the fourth quarter valued at approximately $4,745,000. Engine Capital Management LP lifted its position in MRC Global by 30.0% during the fourth quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock valued at $42,574,000 after purchasing an additional 891,454 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in MRC Global during the first quarter valued at approximately $201,000. 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.