Bank of America Corp DE Purchases 121,368 Shares of MRC Global Inc. (NYSE:MRC)

Bank of America Corp DE lifted its position in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 24.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 624,391 shares of the oil and gas company's stock after acquiring an additional 121,368 shares during the quarter. Bank of America Corp DE owned 0.73% of MRC Global worth $7,980,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Lord Abbett & CO. LLC purchased a new stake in MRC Global during the fourth quarter worth about $10,255,000. JPMorgan Chase & Co. increased its position in MRC Global by 419.3% during the fourth quarter. JPMorgan Chase & Co. now owns 811,787 shares of the oil and gas company's stock worth $10,375,000 after purchasing an additional 655,455 shares during the last quarter. Norges Bank acquired a new position in MRC Global during the fourth quarter worth approximately $4,555,000. American Century Companies Inc. increased its position in shares of MRC Global by 18.5% in the fourth quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company's stock worth $29,159,000 after acquiring an additional 356,372 shares in the last quarter. Finally, Barclays PLC increased its position in shares of MRC Global by 218.0% in the fourth quarter. Barclays PLC now owns 480,669 shares of the oil and gas company's stock worth $6,143,000 after acquiring an additional 329,500 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

MRC Global Stock Performance

MRC Global stock traded down $0.06 on Friday, hitting $12.48. The company's stock had a trading volume of 26,077 shares, compared to its average volume of 642,150. The firm has a market cap of $1.07 billion, a P/E ratio of 14.34 and a beta of 1.63. 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 company has a fifty day moving average price of $11.56 and a 200-day moving average price of $12.63. MRC Global Inc. has a one year low of $9.23 and a one year high of $15.41.

MRC Global (NYSE:MRC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. The business had revenue of $712.00 million for the quarter, compared to the consensus estimate of $710.00 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm's quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. On average, equities analysts anticipate that MRC Global Inc. will post 0.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Susquehanna lowered their price target on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a report on Monday, April 14th. Stifel Nicolaus lifted their price objective on shares of MRC Global from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of MRC Global from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Loop Capital lowered their price objective on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th.

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.