MRC Global Inc. (NYSE:MRC) Sees Significant Decrease in Short Interest

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MRC. Stifel Nicolaus boosted their price target on shares of MRC Global from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. StockNews.com downgraded shares of MRC Global from a "strong-buy" rating to a "buy" rating in a research note on Saturday, November 9th. Finally, Susquehanna lifted their price objective on shares of MRC Global from $16.00 to $17.00 and gave the company a "positive" rating in a report on Thursday, November 7th.

Institutional Trading of MRC Global

Hedge funds have recently made changes to their positions in the company. CWM LLC grew its holdings in shares of MRC Global by 308.2% during the second quarter. CWM LLC now owns 2,584 shares of the oil and gas company's stock worth $33,000 after purchasing an additional 1,951 shares during the last quarter. Innealta Capital LLC purchased a new stake in MRC Global in the 2nd quarter worth approximately $45,000. Canada Pension Plan Investment Board acquired a new position in MRC Global during the second quarter worth approximately $56,000. DekaBank Deutsche Girozentrale acquired a new position in MRC Global during the second quarter valued at approximately $56,000. Finally, nVerses Capital LLC acquired a new position in MRC Global during the 2nd quarter worth approximately $70,000. Hedge funds and other institutional investors own 94.97% of the company's stock.

MRC Global Stock Performance

NYSE MRC traded down $0.11 during mid-day trading on Friday, reaching $13.41. 160,153 shares of the stock were exchanged, compared to its average volume of 587,828. The business's 50 day moving average is $12.61 and its 200-day moving average is $12.82. The company has a market capitalization of $1.14 billion, a P/E ratio of 15.54 and a beta of 1.97. MRC Global has a 1 year low of $9.77 and a 1 year high of $14.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99.

MRC Global (NYSE:MRC - Get Free Report) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business 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 earned $0.32 earnings per share. The business's revenue was down 10.2% compared to the same quarter last year. On average, equities research analysts forecast that MRC Global will post 0.89 EPS for the current fiscal year.

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.