MRC Global Inc. (NYSE:MRC) Short Interest Update

MRC Global Inc. (NYSE:MRC) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,090,000 shares, a drop of 19.9% from the October 15th total of 1,360,000 shares. Based on an average daily volume of 500,000 shares, the short-interest ratio is currently 2.2 days.

Wall Street Analyst Weigh In

MRC has been the subject of several analyst reports. Stifel Nicolaus raised their price target on MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Susquehanna increased their price target on shares of MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a report on Thursday, November 7th. Finally, StockNews.com lowered MRC Global from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 9th.

MRC Global Stock Performance

NYSE:MRC traded down $0.15 on Friday, hitting $13.37. The stock had a trading volume of 395,107 shares, compared to its average volume of 698,771. The business’s 50-day simple moving average is $12.64 and its two-hundred day simple moving average is $12.84. MRC Global has a 52-week low of $9.77 and a 52-week high of $14.91. 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 has a market cap of $1.14 billion, a price-to-earnings ratio of 15.37 and a beta of 1.97.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The business had revenue of $797.00 million for the quarter, compared to analysts’ expectations of $794.17 million. During the same quarter last year, the company posted $0.32 EPS. The company’s revenue was down 10.2% compared to the same quarter last year. As a group, research analysts predict that MRC Global will post 0.89 earnings per share for the current year.

Institutional Trading of MRC Global

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its position in shares of MRC Global by 4.0% in the first quarter. BNP Paribas Financial Markets now owns 78,428 shares of the oil and gas company’s stock worth $986,000 after purchasing an additional 2,994 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of MRC Global in the first quarter valued at about $201,000. Russell Investments Group Ltd. boosted its stake in shares of MRC Global by 13.5% in the first quarter. Russell Investments Group Ltd. now owns 163,006 shares of the oil and gas company’s stock worth $2,049,000 after acquiring an additional 19,369 shares during the period. ProShare Advisors LLC grew its position in shares of MRC Global by 8.5% during the first quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company’s stock worth $190,000 after purchasing an additional 1,186 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in MRC Global by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock valued at $115,391,000 after purchasing an additional 175,865 shares during the period. 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.