MRC Global (MRC) : Traders are bullish on MRC Global (MRC) as it has outperformed the S&P 500 by a wide margin of 2.35% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.06% in the last 1 week, and is up 3.41% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 9% and the 50-Day Moving Average is 6.61%. MRC Global (NYSE:MRC): stock turned positive on Friday. Though the stock opened at $14.84, the bulls momentum made the stock top out at $15.04 level for the day. The stock recorded a low of $14.68 and closed the trading day at $14.87, in the green by 0.20%. The total traded volume for the day was 658,410. The stock had closed at $14.84 in the previous days trading.
The company Insiders own 6.1% of MRC Global shares according to the proxy statements. During last six month period, the net percent change held by insiders has seen a change of 5.46%. Also, Maxim Group upgrades its rating on MRC Global (NYSE:MRC). Analysts at the Maxim Group have a current rating of Buy on the shares. The shares were previously rated Hold. The rating by the firm was issued on August 4, 2016.
MRC Global Inc. is a global industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company offers products that are used in the construction, maintenance, repair and overhaul of equipment used in extreme operating conditions, such as high pressure, high/low temperature and high corrosive and abrasive environments. Its product types include valves, automation and instrumentation, carbon steel fittings and flanges and stainless steel and alloy pipe and fittings, line pipe and oil country tubular goods, among others. The Company offers around 230,000 stock keeping units, including an array of PVF, oilfield supply, automation, instrumentation and other general and specialty industry supply products. The Company operates through its U.S., Canadian, and International segments. It has operations in over 400 service locations. It provides services, such as product testing, volume purchasing and warehousing, among others.