Other research analysts have also issued reports about the stock. Alembic Global Advisors restated a buy rating on shares of MRC Global in a research report on Friday, January 19th. Stifel Nicolaus restated a buy rating and set a $22.00 price target (up from $18.00) on shares of MRC Global in a research report on Tuesday, January 16th. Susquehanna Bancshares set a $21.00 price target on shares of MRC Global and gave the company a buy rating in a research report on Friday, January 12th. Zacks Investment Research upgraded shares of MRC Global from a sell rating to a hold rating in a research report on Wednesday, January 31st. Finally, Cowen reduced their price target on shares of MRC Global from $24.00 to $19.00 and set an outperform rating for the company in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $21.00.
Shares of MRC Global (NYSE:MRC) traded down $0.66 during mid-day trading on Friday, reaching $16.73. 1,327,158 shares of the company’s stock were exchanged, compared to its average volume of 643,887. 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 has a 1-year low of $14.01 and a 1-year high of $22.20. The company has a market cap of $1,581.55, a PE ratio of 61.96, a price-to-earnings-growth ratio of 1.76 and a beta of 1.56.
MRC Global declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 2nd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
In related news, CEO Andrew R. Lane sold 293,154 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $19.00, for a total value of $5,569,926.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew R. Lane sold 180,621 shares of the company’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $19.00, for a total transaction of $3,431,799.00. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado purchased a new position in MRC Global in the fourth quarter worth $120,000. MHI Funds LLC purchased a new position in MRC Global in the fourth quarter worth $171,000. Knightsbridge Asset Management LLC purchased a new position in MRC Global in the fourth quarter worth $195,000. Koch Industries Inc. purchased a new position in MRC Global in the fourth quarter worth $217,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in MRC Global in the third quarter worth $276,000. Institutional investors own 91.93% of the company’s stock.
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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