MRC Global (MRC) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of MRC Global (NYSE:MRC) from a hold rating to a sell rating in a report issued on Friday morning.

MRC has been the topic of a number of other research reports. Alembic Global Advisors reissued a buy rating on shares of MRC Global in a report on Friday, January 19th. Susquehanna Bancshares set a $21.00 price target on shares of MRC Global and gave the stock a buy rating in a report on Friday, January 12th. Zacks Investment Research lowered shares of MRC Global from a hold rating to a sell rating in a report on Tuesday, October 17th. Robert W. Baird reissued a hold rating and issued a $21.00 price target on shares of MRC Global in a report on Monday, October 9th. Finally, Cowen set a $24.00 price target on shares of MRC Global and gave the stock a buy rating in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $20.67.

MRC Global (MRC) opened at $16.94 on Friday. MRC Global has a twelve month low of $14.01 and a twelve month high of $22.20. The company has a current ratio of 2.31, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57.

MRC Global announced that its Board of Directors has initiated a share buyback plan on Thursday, November 2nd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

In other news, CEO Andrew R. Lane sold 180,621 shares of the company’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $19.00, for a total value of $3,431,799.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $5,569,926.00. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Suntrust Banks Inc. boosted its stake in shares of MRC Global by 1.2% in the 2nd quarter. Suntrust Banks Inc. now owns 18,307 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 215 shares in the last quarter. Wayne Hummer Investments L.L.C. boosted its stake in shares of MRC Global by 13.4% in the 3rd quarter. Wayne Hummer Investments L.L.C. now owns 32,315 shares of the oil and gas company’s stock valued at $565,000 after purchasing an additional 3,815 shares in the last quarter. American International Group Inc. boosted its stake in shares of MRC Global by 8.1% in the 3rd quarter. American International Group Inc. now owns 59,936 shares of the oil and gas company’s stock valued at $1,048,000 after purchasing an additional 4,481 shares in the last quarter. Alpha Windward LLC boosted its position in MRC Global by 15.1% during the 4th quarter. Alpha Windward LLC now owns 34,260 shares of the oil and gas company’s stock valued at $580,000 after buying an additional 4,500 shares during the period. Finally, Voya Investment Management LLC boosted its position in MRC Global by 13.3% during the 2nd quarter. Voya Investment Management LLC now owns 42,040 shares of the oil and gas company’s stock valued at $695,000 after buying an additional 4,920 shares during the period. 93.04% of the stock is owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for MRC Global (NYSE:MRC)

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