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MRC Global director Leonard sells shares worth over $551,000

Published 2024-05-15, 06:42 p/m

In a recent transaction, MRC Global Inc. (NYSE:MRC) director Anthony Leonard M disposed of company shares, resulting in a significant sale registered on May 14. According to the filing, Leonard sold 40,000 shares at a weighted average price of $13.78, totaling over $551,200.

The shares sold by Leonard were transacted at prices ranging from $13.63 to $14.01, demonstrating a slight variation in the sale price during the trading period. This sale has adjusted Leonard’s direct holdings in MRC Global to 101,120 shares following the transaction.

Investors and market watchers often monitor insider sales as they may provide insights into an insider’s perspective on the company's current valuation or future prospects. However, such transactions can occur for a variety of personal or financial reasons and may not necessarily reflect the insider's outlook on the company's future performance.

MRC Global, a Houston-based company, specializes in the distribution of industrial machinery and equipment, serving a wide array of industries across the globe. The recent transaction has been publicly disclosed in accordance with SEC regulations, ensuring transparency in the dealings of company insiders.

Investors interested in following MRC Global's insider transactions can keep track of future filings to gauge how insiders are interacting with their holdings in the company.

InvestingPro Insights

As MRC Global Inc. (NYSE:MRC) navigates the market, certain metrics and tips from InvestingPro provide a deeper understanding of the company's financial health and stock performance. The company's market capitalization stands at a solid $1.18 billion, reflecting its position in the industry. With a P/E ratio of 15.61 and a slight adjustment to 15.8 for the last twelve months as of Q1 2024, investors can gauge the company's earnings in relation to its share price. Despite a decrease in revenue growth by 4.93% over the last twelve months, MRC Global maintains a robust gross profit margin of 20.22%, indicating a strong ability to retain earnings from its sales.

InvestingPro Tips highlight several aspects for potential investors to consider. MRC Global has been identified as having a high shareholder yield, which could be appealing to investors looking for returns on their investments. Additionally, the company's stock is trading near its 52-week high, with a price percentage of 99.18% of that peak, suggesting a positive sentiment among investors. These tips, along with others such as the company's earnings revisions by analysts and its operational profitability, can be further explored on InvestingPro's platform, where a total of 17 InvestingPro Tips are available for MRC Global. For those interested in a deeper dive, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

Keeping an eye on insider transactions is indeed crucial, but coupling that information with comprehensive data and expert analysis can provide a more complete investment picture. As MRC Global's stock shows significant returns over the last week, month, and three months, with respective total price returns of 18.6%, 16.32%, and 15.26%, investors may find these insights particularly timely in the context of recent insider sales.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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