MRC Global (NYSE:MRC) Downgraded to Buy at StockNews.com

StockNews.com cut shares of MRC Global (NYSE:MRC) from a strong-buy rating to a buy rating in a research note released on Friday morning.

A number of other equities analysts have also recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Susquehanna reissued a “positive” rating and issued a $16.00 price objective on shares of MRC Global in a research note on Wednesday, June 26th.

MRC Global Stock Down 0.2 %

Shares of NYSE:MRC opened at $12.57 on Friday. MRC Global has a 1 year low of $9.47 and a 1 year high of $14.91. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.10. The business’s 50-day moving average is $12.52 and its 200-day moving average is $12.73. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 14.62 and a beta of 1.97.

MRC Global (NYSE:MRC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The firm had revenue of $832.00 million for the quarter, compared to analysts’ expectations of $831.32 million. During the same period in the prior year, the business earned $0.25 EPS. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. Equities research analysts predict that MRC Global will post 0.91 earnings per share for the current year.

Institutional Trading of MRC Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new position in shares of MRC Global during the first quarter valued at approximately $963,000. Rhumbline Advisers boosted its holdings in MRC Global by 62.0% during the 2nd quarter. Rhumbline Advisers now owns 247,047 shares of the oil and gas company’s stock worth $3,189,000 after acquiring an additional 94,566 shares during the last quarter. Quest Partners LLC grew its stake in shares of MRC Global by 162.9% in the 2nd quarter. Quest Partners LLC now owns 75,977 shares of the oil and gas company’s stock worth $981,000 after acquiring an additional 47,075 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of MRC Global by 18.9% in the second quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company’s stock valued at $16,636,000 after purchasing an additional 204,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of MRC Global by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock valued at $47,629,000 after purchasing an additional 97,445 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

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.