MRC Global Inc. (NYSE:MRC) Short Interest Down 12.0% in February

MRC Global Inc. (NYSE:MRC - Get Free Report) saw a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 1,320,000 shares, a drop of 12.0% from the January 31st total of 1,500,000 shares. Based on an average trading volume of 614,100 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in MRC Global by 20.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 266,690 shares of the oil and gas company's stock valued at $3,408,000 after purchasing an additional 45,497 shares during the period. Sourcerock Group LLC lifted its holdings in MRC Global by 1.6% in the fourth quarter. Sourcerock Group LLC now owns 501,890 shares of the oil and gas company's stock valued at $6,414,000 after buying an additional 7,786 shares during the period. Squarepoint Ops LLC boosted its stake in MRC Global by 96.8% in the fourth quarter. Squarepoint Ops LLC now owns 22,418 shares of the oil and gas company's stock valued at $287,000 after acquiring an additional 11,025 shares during the last quarter. State of Wyoming boosted its stake in MRC Global by 24.2% in the fourth quarter. State of Wyoming now owns 28,894 shares of the oil and gas company's stock valued at $369,000 after acquiring an additional 5,623 shares during the last quarter. Finally, Shay Capital LLC acquired a new stake in MRC Global during the 4th quarter worth $270,000. Institutional investors and hedge funds own 94.97% of the company's stock.

MRC Global Price Performance

Shares of MRC Global stock traded down $0.32 during midday trading on Monday, hitting $11.25. 476,209 shares of the company were exchanged, compared to its average volume of 556,999. The firm has a 50 day simple moving average of $13.32 and a 200-day simple moving average of $13.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11. The firm has a market cap of $958.56 million, a P/E ratio of 12.93 and a beta of 1.96. MRC Global has a 52 week low of $10.96 and a 52 week high of $15.41.

Remove Ads

MRC Global announced that its board has authorized a stock repurchase plan on Friday, January 3rd that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 11% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

About MRC Global

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.