MRC Global (NYSE:MRC) Reaches New 1-Year Low – Time to Sell?

MRC Global Inc. (NYSE:MRC)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $11.08 and last traded at $11.13, with a volume of 58327 shares. The stock had previously closed at $11.58.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MRC shares. Susquehanna upped their target price on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a report on Thursday, November 7th. StockNews.com downgraded shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 9th.

MRC Global Trading Down 2.5 %

The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $962.82 million, a price-to-earnings ratio of 12.95 and a beta of 1.97. The company has a fifty day moving average price of $13.43 and a 200-day moving average price of $13.10.

MRC Global declared that its board has approved a stock buyback plan on Friday, January 3rd that authorizes the company to buyback $125.00 million in shares. This buyback authorization authorizes the oil and gas company to purchase up to 11% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of MRC Global

A number of hedge funds have recently bought and sold shares of MRC. Lord Abbett & CO. LLC acquired a new position in shares of MRC Global in the fourth quarter valued at $10,255,000. JPMorgan Chase & Co. boosted its holdings in MRC Global by 419.3% during the fourth quarter. JPMorgan Chase & Co. now owns 811,787 shares of the oil and gas company’s stock valued at $10,375,000 after purchasing an additional 655,455 shares in the last quarter. Norges Bank bought a new stake in shares of MRC Global in the 4th quarter valued at approximately $4,555,000. American Century Companies Inc. raised its holdings in shares of MRC Global by 18.5% in the 4th quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company’s stock worth $29,159,000 after buying an additional 356,372 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of MRC Global by 218.0% during the 4th quarter. Barclays PLC now owns 480,669 shares of the oil and gas company’s stock worth $6,143,000 after buying an additional 329,500 shares during the period. 94.97% of the stock is owned by institutional investors.

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.