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

StockNews.com upgraded shares of MRC Global (NYSE:MRCGet Rating) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

Separately, Stifel Nicolaus cut their target price on shares of MRC Global from $16.00 to $15.00 in a research report on Tuesday, October 11th.

MRC Global Trading Down 2.3 %

Shares of NYSE MRC opened at $11.57 on Monday. MRC Global has a 1 year low of $6.38 and a 1 year high of $13.44. The stock has a market cap of $967.37 million, a P/E ratio of 38.57 and a beta of 2.15. The firm has a 50-day moving average of $9.48 and a 200 day moving average of $10.02. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.91 and a quick ratio of 0.96.

Hedge Funds Weigh In On MRC Global

Several large investors have recently added to or reduced their stakes in MRC. Allspring Global Investments Holdings LLC lifted its holdings in MRC Global by 15.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,146 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 1,091 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in shares of MRC Global in the third quarter worth $61,000. Delphia USA Inc. purchased a new position in shares of MRC Global in the third quarter worth $83,000. Fox Run Management L.L.C. purchased a new position in shares of MRC Global in the third quarter worth $96,000. Finally, Lazard Asset Management LLC purchased a new position in shares of MRC Global in the first quarter worth $96,000. Hedge funds and other institutional investors own 96.85% of the company’s stock.

About MRC Global

(Get Rating)

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy, industrial, and gas utility end-markets in the United States, Canada, and internationally. 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, and top work components, as well as valve modification services; and measurement, steam, and instrumentation products.

Further Reading

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