MRC Global Inc. (NYSE:MRC) shares saw unusually-high trading volume on Wednesday . Approximately 1,336,860 shares traded hands during mid-day trading, an increase of 29% from the previous session’s volume of 1,033,441 shares.The stock last traded at $14.31 and had previously closed at $14.01.

MRC has been the subject of several research reports. Zacks Investment Research downgraded shares of MRC Global from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Capital One Financial Corp. upgraded shares of MRC Global from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. restated a “buy” rating on shares of MRC Global in a research note on Wednesday, August 3rd. Maxim Group upgraded shares of MRC Global from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Thursday, August 4th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of MRC Global in a research note on Sunday, September 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $16.00.

The firm’s 50 day moving average price is $14.65 and its 200 day moving average price is $14.02. The company’s market capitalization is $1.38 billion.

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MRC Global (NYSE:MRC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by $0.07. The company had revenue of $746 million for the quarter, compared to analysts’ expectations of $747.81 million. MRC Global had a positive return on equity of 1.60% and a negative net margin of 11.27%. The business’s revenue for the quarter was down 37.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 EPS. Equities analysts predict that MRC Global Inc. will post ($0.59) EPS for the current year.

In other MRC Global news, Director Gerard Pieter Krans sold 23,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $15.33, for a total transaction of $352,590.00. Following the transaction, the director now owns 18,802 shares of the company’s stock, valued at $288,234.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel J. Churay sold 5,350 shares of the stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $14.77, for a total transaction of $79,019.50. Following the transaction, the executive vice president now directly owns 46,292 shares in the company, valued at approximately $683,732.84. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC increased its position in MRC Global by 10.4% in the first quarter. TIAA CREF Investment Management LLC now owns 368,655 shares of the company’s stock worth $4,844,000 after buying an additional 34,720 shares in the last quarter. Prudential Financial Inc. increased its position in shares of MRC Global by 31.2% in the first quarter. Prudential Financial Inc. now owns 274,020 shares of the company’s stock worth $3,601,000 after buying an additional 65,200 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in shares of MRC Global during the first quarter worth approximately $6,604,000. Canada Pension Plan Investment Board increased its position in shares of MRC Global by 346.3% in the first quarter. Canada Pension Plan Investment Board now owns 465,120 shares of the company’s stock worth $6,112,000 after buying an additional 360,900 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of MRC Global by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,630,589 shares of the company’s stock worth $34,566,000 after buying an additional 42,963 shares in the last quarter. 99.30% of the stock is currently owned by institutional investors.

About MRC Global

MRC Global Inc is an industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company operates through three segments: the United States of America, Canada and International. It has branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia, Australasia, the Middle East and Kazakhstan.

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