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

Bank of America Corp DE lifted its holdings in MRC Global Inc. (NYSE:MRC - Free Report) by 24.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 624,391 shares of the oil and gas company's stock after buying an additional 121,368 shares during the period. Bank of America Corp DE owned about 0.73% of MRC Global worth $7,980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of MRC Global by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 9,390,014 shares of the oil and gas company's stock worth $120,004,000 after buying an additional 42,331 shares during the period. Pzena Investment Management LLC boosted its position in shares of MRC Global by 1.0% in the fourth quarter. Pzena Investment Management LLC now owns 5,825,650 shares of the oil and gas company's stock worth $74,452,000 after buying an additional 54,859 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of MRC Global by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,827,433 shares of the oil and gas company's stock worth $48,914,000 after buying an additional 164,973 shares during the period. American Century Companies Inc. raised its holdings in shares of MRC Global by 18.5% during 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, Arrowstreet Capital Limited Partnership raised its holdings in shares of MRC Global by 0.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,214,254 shares of the oil and gas company's stock worth $15,518,000 after acquiring an additional 7,001 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

MRC Global Stock Performance

Shares of MRC Global stock traded down $0.09 during trading on Wednesday, reaching $12.53. The company's stock had a trading volume of 490,627 shares, compared to its average volume of 642,220. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. The business's fifty day moving average price is $11.54 and its 200-day moving average price is $12.64. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 14.40 and a beta of 1.63. 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 posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.06. The business had revenue of $712.00 million for the quarter, compared to analyst estimates of $710.00 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The firm's revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. As a group, equities research analysts predict that MRC Global Inc. will post 0.86 earnings per share for the current year.

Wall Street Analyst Weigh In

MRC has been the subject of several recent research reports. Stifel Nicolaus increased their price objective on MRC Global from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Loop Capital cut their price objective on MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Wall Street Zen lowered MRC Global from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Susquehanna cut their price objective on MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a report on Monday, April 14th.

About MRC Global

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.