MRC Global (NYSE:MRC) Lowered to Hold Rating by StockNews.com

MRC Global (NYSE:MRC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

A number of other analysts have also issued reports on MRC. Stifel Nicolaus reduced their price target on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Monday. Susquehanna cut their price target on MRC Global from $17.00 to $15.00 and set a “positive” rating for the company in a research note on Monday.

MRC Global Trading Up 1.9 %

Shares of MRC traded up $0.22 during midday trading on Monday, hitting $11.72. The stock had a trading volume of 1,219,280 shares, compared to its average volume of 568,600. The business has a 50-day simple moving average of $13.14 and a two-hundred day simple moving average of $13.00. The firm has a market cap of $998.62 million, a P/E ratio of 13.47 and a beta of 1.96. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. MRC Global has a fifty-two week low of $9.42 and a fifty-two week high of $15.41.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $736.80 million for the quarter, compared to analysts’ expectations of $726.90 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS. As a group, equities analysts forecast that MRC Global will post 0.86 EPS for the current year.

MRC Global announced that its Board of Directors has initiated a stock repurchase program on Friday, January 3rd that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 11% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of MRC Global by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,390,014 shares of the oil and gas company’s stock valued at $120,004,000 after purchasing an additional 42,331 shares during the period. Pzena Investment Management LLC boosted its stake in MRC Global by 1.0% in the fourth quarter. Pzena Investment Management LLC now owns 5,825,650 shares of the oil and gas company’s stock worth $74,452,000 after purchasing an additional 54,859 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in MRC Global by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,827,433 shares of the oil and gas company’s stock worth $48,914,000 after acquiring an additional 164,973 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of MRC Global by 1.8% in the third quarter. Wellington Management Group LLP now owns 3,209,251 shares of the oil and gas company’s stock valued at $40,886,000 after purchasing an additional 55,553 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake 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 valued at $29,159,000 after purchasing an additional 356,372 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

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.