MRC Global Inc. (NYSE:MRC) Short Interest Update

MRC Global Inc. (NYSE:MRC) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,090,000 shares, a drop of 19.9% from the October 15th total of 1,360,000 shares. Based on an average daily volume of 500,000 shares, the days-to-cover ratio is presently 2.2 days.

Analysts Set New Price Targets

A number of research firms have recently commented on MRC. Stifel Nicolaus lifted their price objective on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Susquehanna raised their target price on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a report on Thursday, November 7th. Finally, StockNews.com lowered MRC Global from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 9th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in MRC Global in the first quarter worth about $963,000. Rhumbline Advisers raised its holdings in shares of MRC Global by 62.0% in the 2nd quarter. Rhumbline Advisers now owns 247,047 shares of the oil and gas company’s stock worth $3,189,000 after buying an additional 94,566 shares in the last quarter. Quest Partners LLC lifted its position in shares of MRC Global by 162.9% during the 2nd quarter. Quest Partners LLC now owns 75,977 shares of the oil and gas company’s stock worth $981,000 after buying an additional 47,075 shares during the period. Renaissance Technologies LLC lifted its position in shares of MRC Global by 18.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company’s stock worth $16,636,000 after buying an additional 204,600 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in MRC Global by 2.7% in the 2nd 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 buying an additional 97,445 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

MRC Global Stock Performance

Shares of MRC traded down $0.15 during trading hours on Friday, reaching $13.37. 395,107 shares of the company traded hands, compared to its average volume of 588,887. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. The stock’s fifty day moving average is $12.64 and its 200 day moving average is $12.84. MRC Global has a 1-year low of $9.77 and a 1-year high of $14.91. The stock has a market cap of $1.14 billion, a P/E ratio of 15.37 and a beta of 1.97.

MRC Global (NYSE:MRC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The firm had revenue of $797.00 million during the quarter, compared to analysts’ expectations of $794.17 million. During the same quarter in the prior year, the firm posted $0.32 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. Equities research analysts anticipate that MRC Global will post 0.89 earnings per share for the current fiscal year.

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.