Insider Selling: MRC Global Inc. (NYSE:MRC) Insider Sells $59,949.50 in Stock

Posted by on Mar 6th, 2023

MRC Global Inc. (NYSE:MRC – Get Rating) insider Gillian Anderson sold 5,213 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $11.50, for a total value of $59,949.50. Following the sale, the insider now owns 26,507 shares in the company, valued at approximately $304,830.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

MRC Global Stock Performance

Shares of MRC stock opened at $11.80 on Monday. The company has a market capitalization of $987.07 million, a P/E ratio of 19.67 and a beta of 2.19. The business’s 50 day moving average is $12.09 and its two-hundred day moving average is $10.77. The company has a current ratio of 2.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.87. MRC Global Inc. has a 12-month low of $7.03 and a 12-month high of $13.90.

MRC Global (NYSE:MRC – Get Rating) last issued its quarterly earnings results on Monday, February 13th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $869.00 million for the quarter, compared to the consensus estimate of $872.18 million. MRC Global had a return on equity of 34.84% and a net margin of 2.23%. MRC Global’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 earnings per share. Analysts expect that MRC Global Inc. will post 1.61 EPS for the current fiscal year.

Hedge Funds Weigh In On MRC Global

A number of hedge funds have recently bought and sold shares of the business. Coppell Advisory Solutions Corp. purchased a new position in MRC Global during the fourth quarter worth approximately $45,000. Lazard Asset Management LLC raised its holdings in shares of MRC Global by 427.7% during the fourth quarter. Lazard Asset Management LLC now owns 96,197 shares of the oil and gas company’s stock valued at $1,113,000 after acquiring an additional 77,968 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of MRC Global by 40.6% during the fourth quarter. Squarepoint Ops LLC now owns 38,144 shares of the oil and gas company’s stock valued at $442,000 after acquiring an additional 11,009 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of MRC Global by 3.3% during the fourth quarter. Legal & General Group Plc now owns 38,723 shares of the oil and gas company’s stock valued at $448,000 after acquiring an additional 1,234 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of MRC Global by 40.9% during the fourth quarter. Morgan Stanley now owns 1,036,612 shares of the oil and gas company’s stock valued at $12,004,000 after acquiring an additional 300,767 shares during the last quarter. Hedge funds and other institutional investors own 96.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MRC shares. StockNews.com upgraded MRC Global from a “hold” rating to a “buy” rating in a research note on Monday, November 21st. Stifel Nicolaus upped their target price on MRC Global from $15.00 to $17.00 in a research note on Wednesday, February 15th.

MRC Global Company Profile

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MRC Global, Inc is a holding company, which engages in the distribution of pipes, valves, fittings, and other infrastructure products and services to the energy, industrial, and gas utility end-markets. It operates through the following geographical segments: U.S., Canada, and International. The company was founded on November 20, 2006 and is headquartered in Houston, TX.

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