Bank of New York Mellon Corp Has $5.37 Million Holdings in MRC Global Inc. (NYSE:MRC)

Bank of New York Mellon Corp boosted its holdings in MRC Global Inc. (NYSE:MRC) by 9.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 416,182 shares of the oil and gas company’s stock after purchasing an additional 37,557 shares during the quarter. Bank of New York Mellon Corp’s holdings in MRC Global were worth $5,373,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of MRC Global by 2.0% during the first quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock worth $115,391,000 after purchasing an additional 175,865 shares during the period. Pzena Investment Management LLC increased its stake in MRC Global by 5.1% during the 1st quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock worth $92,521,000 after acquiring an additional 358,580 shares during the period. Engine Capital Management LP raised its holdings in MRC Global by 30.0% in the 4th quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock valued at $42,574,000 after acquiring an additional 891,454 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of MRC Global by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,327,337 shares of the oil and gas company’s stock valued at $36,635,000 after acquiring an additional 36,845 shares during the period. Finally, Appian Way Asset Management LP bought a new stake in shares of MRC Global during the 4th quarter valued at $4,745,000. Institutional investors own 94.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MRC shares. Susquehanna reaffirmed a “positive” rating and set a $16.00 price objective on shares of MRC Global in a research report on Wednesday, June 26th. StockNews.com cut shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 13th.

MRC Global Stock Performance

NYSE:MRC opened at $11.69 on Friday. MRC Global Inc. has a twelve month low of $9.47 and a twelve month high of $14.91. The company has a quick ratio of 1.10, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The stock’s 50-day simple moving average is $13.06 and its 200 day simple moving average is $12.66. The firm has a market capitalization of $994.54 million, a PE ratio of 13.59 and a beta of 1.97.

MRC Global (NYSE:MRC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $832.00 million for the quarter, compared to the consensus estimate of $831.32 million. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.25 EPS. On average, analysts anticipate that MRC Global Inc. will post 1 EPS for the current fiscal year.

MRC Global 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.