MRC Global Inc. (NYSE:MRC) Short Interest Down 19.9% in October

MRC Global Inc. (NYSE:MRC) saw a significant 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 trading volume, of 500,000 shares, the short-interest ratio is presently 2.2 days.

MRC Global Stock Performance

Shares of MRC opened at $13.52 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.15 billion, a PE ratio of 15.54 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 stock has a fifty day moving average price of $12.61 and a 200-day moving average price of $12.82.

MRC Global (NYSE:MRC) last released its quarterly 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 company had revenue of $797.00 million during the quarter, compared to analysts’ expectations of $794.17 million. During the same period last year, the business posted $0.32 earnings per share. The firm’s revenue was down 10.2% compared to the same quarter last year. Equities research analysts predict that MRC Global will post 0.89 earnings per share for the current fiscal year.

Institutional Trading of MRC Global

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

Wall Street Analyst Weigh In

Several analysts have issued reports on MRC shares. Susquehanna increased their target price on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Thursday, November 7th. StockNews.com downgraded MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 9th. Finally, Stifel Nicolaus boosted their target price on shares of MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th.

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.