MRC Global (NYSE:MRC) Sets New 12-Month Low - Here's What Happened

MRC Global Inc. (NYSE:MRC - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $11.04 and last traded at $11.06, with a volume of 101715 shares traded. The stock had previously closed at $11.30.

MRC Global Price Performance

The stock has a market cap of $947.82 million, a PE ratio of 12.77 and a beta of 1.96. The business's 50-day simple moving average is $13.23 and its 200-day simple moving average is $13.03. 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 (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, hitting the consensus estimate of $0.08. The company had revenue of $736.80 million for the quarter, compared to analysts' expectations of $726.90 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. MRC Global's quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. On average, research analysts expect that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

MRC Global declared that its Board of Directors has approved a share repurchase plan on Friday, January 3rd that allows the company to buyback $125.00 million in shares. This buyback authorization allows the oil and gas company to buy up to 11% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

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Institutional Trading of MRC Global

Large investors have recently added to or reduced their stakes in the stock. Huntington National Bank bought a new position in MRC Global in the 4th quarter worth $34,000. Sterling Capital Management LLC lifted its holdings in MRC Global by 821.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company's stock worth $34,000 after buying an additional 2,406 shares during the period. Meeder Asset Management Inc. purchased a new stake in MRC Global in the fourth quarter worth about $56,000. Quantinno Capital Management LP bought a new stake in MRC Global during the 4th quarter valued at approximately $129,000. Finally, Longboard Asset Management LP bought a new position in shares of MRC Global in the 4th quarter worth approximately $134,000. Institutional investors own 94.97% of the company's stock.

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.