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

MRC Global Inc. (NYSE:MRC - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 1,750,000 shares, a growth of 21.5% from the March 15th total of 1,440,000 shares. Based on an average daily trading volume, of 791,200 shares, the short-interest ratio is presently 2.2 days. Approximately 2.6% of the shares of the stock are sold short.

MRC Global Stock Up 4.6 %

Shares of MRC traded up $0.51 during mid-day trading on Thursday, reaching $11.65. The company's stock had a trading volume of 455,793 shares, compared to its average volume of 634,500. The business has a fifty day moving average of $11.39 and a 200 day moving average of $12.69. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 13.39 and a beta of 1.67. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. MRC Global has a 1 year low of $9.23 and a 1 year high of $15.41.

MRC Global (NYSE:MRC - Get Free Report) last posted its earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.08. The business had revenue of $736.80 million for the quarter, compared to analyst estimates of $726.90 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. MRC Global's revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business posted $0.23 EPS. As a group, analysts forecast that MRC Global will post 0.86 earnings per share for the current fiscal year.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MRC. Huntington National Bank bought a new stake in MRC Global during the fourth quarter worth about $34,000. Sterling Capital Management LLC lifted its position in MRC Global by 821.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company's stock worth $34,000 after purchasing an additional 2,406 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of MRC Global during the 4th quarter worth $56,000. Quantinno Capital Management LP bought a new position in shares of MRC Global in the 4th quarter valued at $129,000. Finally, Longboard Asset Management LP bought a new position in shares of MRC Global during the fourth quarter valued at $134,000. Institutional investors own 94.97% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. StockNews.com cut MRC Global from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Loop Capital decreased their price target on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Susquehanna dropped their price objective on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Finally, Stifel Nicolaus reduced their price target on MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a report on Monday, March 17th.

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.