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

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

MRC Global Price Performance

NYSE:MRC traded down $0.15 during mid-day trading on Friday, reaching $13.37. 395,107 shares of the company were exchanged, compared to its average volume of 588,887. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.14 billion, a PE ratio of 15.37 and a beta of 1.97. MRC Global has a 12 month low of $9.77 and a 12 month high of $14.91. The company has a fifty day moving average of $12.64 and a 200 day moving average of $12.84.

MRC Global (NYSE:MRC) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The company had revenue of $797.00 million for the quarter, compared to analyst estimates of $794.17 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. MRC Global’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 earnings per share. On average, research analysts anticipate that MRC Global will post 0.89 EPS for the current fiscal year.

Institutional Trading of MRC Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in shares of MRC Global during the 1st quarter worth approximately $963,000. Rhumbline Advisers lifted its holdings in MRC Global by 62.0% in the second quarter. Rhumbline Advisers now owns 247,047 shares of the oil and gas company’s stock valued at $3,189,000 after buying an additional 94,566 shares during the period. Quest Partners LLC boosted its stake in MRC Global by 162.9% in the second quarter. Quest Partners LLC now owns 75,977 shares of the oil and gas company’s stock valued at $981,000 after acquiring an additional 47,075 shares during the last quarter. Renaissance Technologies LLC grew its holdings in MRC Global by 18.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company’s stock worth $16,636,000 after acquiring an additional 204,600 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of MRC Global by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock valued at $47,629,000 after acquiring an additional 97,445 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MRC has been the topic of a number of recent analyst reports. Susquehanna boosted their price target on shares of MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Thursday, November 7th. Stifel Nicolaus boosted their target price on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, StockNews.com lowered MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 9th.

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.