MRC Global (NYSE:MRC)‘s stock had its “buy” rating restated by research analysts at Alembic Global Advisors in a research report issued on Friday.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded MRC Global from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price target on shares of MRC Global in a report on Tuesday, October 17th. Cowen cut their price target on MRC Global from $24.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. Susquehanna Bancshares set a $21.00 price target on MRC Global and gave the company a “buy” rating in a report on Friday, January 12th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $21.00 price target on shares of MRC Global in a report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. MRC Global presently has an average rating of “Hold” and a consensus target price of $20.67.
MRC Global (NYSE MRC) traded up $0.31 on Friday, reaching $18.81. The company’s stock had a trading volume of 538,843 shares, compared to its average volume of 413,310. The stock has a market cap of $1,748.87, a P/E ratio of -67.18, a P/E/G ratio of 1.99 and a beta of 1.60. MRC Global has a one year low of $14.01 and a one year high of $22.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.31 and a quick ratio of 1.16.
MRC Global announced that its board has authorized a share buyback program on Thursday, November 2nd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Andrew R. Lane sold 293,154 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $19.00, for a total value of $5,569,926.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew R. Lane sold 180,621 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $19.00, for a total value of $3,431,799.00. The disclosure for this sale can be found here. 6.30% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Suntrust Banks Inc. boosted its position in shares of MRC Global by 1.2% in the 2nd quarter. Suntrust Banks Inc. now owns 18,307 shares of the oil and gas company’s stock worth $302,000 after purchasing an additional 215 shares in the last quarter. Broadview Advisors LLC lifted its position in MRC Global by 0.8% during the 2nd quarter. Broadview Advisors LLC now owns 100,550 shares of the oil and gas company’s stock worth $1,661,000 after acquiring an additional 800 shares during the period. Wayne Hummer Investments L.L.C. lifted its position in MRC Global by 13.4% during the 3rd quarter. Wayne Hummer Investments L.L.C. now owns 32,315 shares of the oil and gas company’s stock worth $565,000 after acquiring an additional 3,815 shares during the period. American International Group Inc. lifted its position in MRC Global by 8.1% during the 3rd quarter. American International Group Inc. now owns 59,936 shares of the oil and gas company’s stock worth $1,048,000 after acquiring an additional 4,481 shares during the period. Finally, Alpha Windward LLC lifted its position in MRC Global by 15.1% during the 4th quarter. Alpha Windward LLC now owns 34,260 shares of the oil and gas company’s stock worth $580,000 after acquiring an additional 4,500 shares during the period. 94.65% of the stock is owned by hedge funds and other institutional investors.
About MRC Global
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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