MRC Global Inc (NYSE:MRC) Short Interest Update

MRC Global Inc (NYSE:MRC) saw a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 3,221,200 shares, a decrease of 7.4% from the June 15th total of 3,478,100 shares. Based on an average daily trading volume, of 819,700 shares, the short-interest ratio is currently 3.9 days. Approximately 4.1% of the shares of the stock are short sold.

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group raised their price objective on ServiceNow from $242.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Stifel Nicolaus raised QUALCOMM from a “hold” rating to a “buy” rating and raised their price objective for the company from $57.00 to $100.00 in a research note on Tuesday, April 16th. Finally, ValuEngine lowered United Rentals from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.44.

Shares of MRC Global stock traded up $0.42 during trading on Tuesday, reaching $15.90. The company’s stock had a trading volume of 671,000 shares, compared to its average volume of 895,735. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.14 and a current ratio of 2.54. The stock has a market capitalization of $1.28 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 0.91 and a beta of 1.99. MRC Global has a 1-year low of $11.62 and a 1-year high of $22.96. The company has a 50-day moving average price of $16.15.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.08. The firm had revenue of $970.00 million during the quarter, compared to analysts’ expectations of $953.51 million. MRC Global had a return on equity of 10.65% and a net margin of 1.79%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 EPS. As a group, equities analysts predict that MRC Global will post 0.87 EPS for the current year.

In other news, EVP Daniel J. Churay sold 54,479 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $16.83, for a total value of $916,881.57. Following the completion of the sale, the executive vice president now directly owns 82,834 shares of the company’s stock, valued at approximately $1,394,096.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel J. Churay sold 25,286 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $17.11, for a total value of $432,643.46. Following the completion of the sale, the executive vice president now directly owns 82,834 shares of the company’s stock, valued at $1,417,289.74. The disclosure for this sale can be found here. 23.10% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of MRC. Investors Research Corp boosted its position in shares of MRC Global by 50.0% in the 2nd quarter. Investors Research Corp now owns 1,800 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 600 shares in the last quarter. Amalgamated Bank acquired a new stake in MRC Global during the 4th quarter worth about $144,000. Hsbc Holdings PLC acquired a new stake in MRC Global during the 4th quarter worth about $153,000. CWM Advisors LLC acquired a new stake in MRC Global during the 2nd quarter worth about $181,000. Finally, MHI Funds LLC lifted its position in MRC Global by 29.7% during the 1st quarter. MHI Funds LLC now owns 11,666 shares of the oil and gas company’s stock worth $204,000 after acquiring an additional 2,669 shares during the period.

MRC Global Company Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.

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