Bank of America Corp DE raised its stake in MRC Global Inc (NYSE:MRC) by 3.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 664,046 shares of the oil and gas company’s stock after buying an additional 19,202 shares during the period. Bank of America Corp DE’s holdings in MRC Global were worth $8,121,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of MRC. Quantamental Technologies LLC acquired a new stake in MRC Global in the fourth quarter valued at approximately $55,000. CX Institutional acquired a new position in shares of MRC Global during the fourth quarter worth $57,000. Pearl River Capital LLC acquired a new position in shares of MRC Global during the fourth quarter worth $101,000. Sun Life Financial INC acquired a new position in shares of MRC Global during the fourth quarter worth $103,000. Finally, Menta Capital LLC acquired a new position in shares of MRC Global during the fourth quarter worth $150,000.
MRC has been the topic of a number of recent research reports. ValuEngine lowered shares of MRC Global from a “hold” rating to a “sell” rating in a report on Tuesday, December 25th. Wells Fargo & Co cut their price target on shares of MRC Global from $18.00 to $13.00 and set a “market perform” rating on the stock in a report on Friday, December 21st. Stephens reiterated a “buy” rating and set a $22.00 price target on shares of MRC Global in a report on Wednesday, February 20th. Zacks Investment Research lowered shares of MRC Global from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Finally, Stifel Nicolaus lowered shares of MRC Global from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. MRC Global presently has a consensus rating of “Hold” and an average target price of $21.56.
MRC Global (NYSE:MRC) last released its earnings results on Thursday, February 14th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. MRC Global had a net margin of 1.77% and a return on equity of 10.41%. MRC Global’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 EPS. Equities analysts anticipate that MRC Global Inc will post 0.91 earnings per share for the current fiscal year.
In related news, insider Grant R. Bates sold 30,500 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $18.78, for a total value of $572,790.00. Following the transaction, the insider now owns 34,461 shares in the company, valued at $647,177.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP John L. Bowhay sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $17.13, for a total transaction of $256,950.00. Following the completion of the transaction, the senior vice president now owns 70,854 shares in the company, valued at approximately $1,213,729.02. The disclosure for this sale can be found here. 23.10% of the stock is owned by insiders.
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MRC Global Company Profile
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.
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