MRC Global Inc (NYSE:MRC) – Investment analysts at KeyCorp issued their FY2019 earnings per share estimates for shares of MRC Global in a research report issued to clients and investors on Sunday. KeyCorp analyst S. Barger forecasts that the oil and gas company will post earnings per share of $1.01 for the year.
Several other brokerages have also recently issued reports on MRC. Stifel Nicolaus restated a “buy” rating and set a $22.00 price objective (up previously from $18.00) on shares of MRC Global in a research note on Tuesday, January 16th. Alembic Global Advisors restated a “buy” rating on shares of MRC Global in a research note on Friday, January 19th. Susquehanna Bancshares set a $21.00 price objective on MRC Global and gave the company a “buy” rating in a research note on Friday, January 12th. Zacks Investment Research cut MRC Global from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, ValuEngine cut MRC Global from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $20.67.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of MRC Global by 8.9% during the 2nd quarter. BlackRock Inc. now owns 7,758,258 shares of the oil and gas company’s stock worth $128,164,000 after purchasing an additional 632,231 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in MRC Global by 12.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,250,443 shares of the oil and gas company’s stock worth $71,917,000 after buying an additional 468,457 shares in the last quarter. Citadel Advisors LLC grew its holdings in MRC Global by 60.9% in the 3rd quarter. Citadel Advisors LLC now owns 3,078,500 shares of the oil and gas company’s stock worth $53,844,000 after buying an additional 1,164,950 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings in MRC Global by 1.2% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,567,769 shares of the oil and gas company’s stock worth $44,910,000 after buying an additional 30,382 shares in the last quarter. Finally, Ardevora Asset Management LLP grew its holdings in MRC Global by 5.7% in the 3rd quarter. Ardevora Asset Management LLP now owns 2,130,800 shares of the oil and gas company’s stock worth $37,268,000 after buying an additional 115,700 shares in the last quarter. Institutional investors and hedge funds own 91.93% of the company’s stock.
In other news, CEO Andrew R. Lane sold 293,154 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $19.00, for a total transaction of $5,569,926.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew R. Lane sold 180,621 shares of the stock in a transaction that occurred 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 currently owned by corporate insiders.
MRC Global declared that its Board of Directors has initiated a share repurchase 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 repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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MRC Global Company Profile
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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