MRC Global Inc (NYSE:MRC) CEO Andrew R. Lane sold 293,154 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $19.00, for a total value of $5,569,926.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
MRC Global Inc (NYSE:MRC) traded up $0.09 during trading hours on Friday, reaching $16.00. The company’s stock had a trading volume of 1,010,665 shares, compared to its average volume of 623,627. MRC Global Inc has a twelve month low of $14.01 and a twelve month high of $22.20. The company has a quick ratio of 1.16, a current ratio of 2.31 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1,512.54, a price-to-earnings ratio of -57.14, a PEG ratio of 1.69 and a beta of 1.56.
MRC Global announced that its board has initiated a stock buyback plan on Thursday, November 2nd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
Several analysts recently commented on MRC shares. Alembic Global Advisors reaffirmed a “buy” rating on shares of MRC Global in a report on Friday, January 19th. ValuEngine lowered MRC Global from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Zacks Investment Research lowered MRC Global from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Susquehanna Bancshares set a $21.00 price objective on MRC Global and gave the stock a “buy” rating in a report on Friday, January 12th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $22.00 price objective (up previously from $18.00) on shares of MRC Global in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $20.67.
Large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC boosted its stake in shares of MRC Global by 334.1% in the second quarter. Citadel Advisors LLC now owns 1,913,550 shares of the oil and gas company’s stock worth $31,612,000 after acquiring an additional 1,472,693 shares during the period. Artisan Partners Limited Partnership bought a new position in shares of MRC Global in the second quarter worth about $17,961,000. BlackRock Inc. boosted its stake in shares of MRC Global by 8.9% in the second quarter. BlackRock Inc. now owns 7,758,258 shares of the oil and gas company’s stock worth $128,164,000 after acquiring an additional 632,231 shares during the period. Thrivent Financial For Lutherans boosted its stake in shares of MRC Global by 38.6% in the second quarter. Thrivent Financial For Lutherans now owns 1,369,000 shares of the oil and gas company’s stock worth $22,615,000 after acquiring an additional 381,510 shares during the period. Finally, Koch Industries Inc. bought a new position in shares of MRC Global in the second quarter worth about $238,000. 93.04% of the stock is owned by institutional investors and hedge funds.
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About MRC Global
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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