Teacher Retirement System of Texas Raises Stake in MRC Global Inc. (NYSE:MRC)

Teacher Retirement System of Texas grew its position in MRC Global Inc. (NYSE:MRC - Free Report) by 98.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,735 shares of the oil and gas company's stock after buying an additional 120,588 shares during the period. Teacher Retirement System of Texas owned 0.28% of MRC Global worth $3,102,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MRC. Intech Investment Management LLC acquired a new stake in MRC Global during the third quarter worth $193,000. Dynamic Technology Lab Private Ltd increased its position in shares of MRC Global by 171.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 86,434 shares of the oil and gas company's stock worth $1,101,000 after purchasing an additional 54,560 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in MRC Global by 33.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 42,883 shares of the oil and gas company's stock valued at $546,000 after buying an additional 10,822 shares during the period. FMR LLC raised its holdings in MRC Global by 25.3% in the 3rd quarter. FMR LLC now owns 100,976 shares of the oil and gas company's stock valued at $1,286,000 after buying an additional 20,406 shares during the period. Finally, Martingale Asset Management L P lifted its position in MRC Global by 14.2% in the third quarter. Martingale Asset Management L P now owns 153,617 shares of the oil and gas company's stock valued at $1,957,000 after buying an additional 19,044 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MRC shares. Stifel Nicolaus reduced their price target on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Susquehanna lowered their price target on MRC Global from $17.00 to $15.00 and set a "positive" rating for the company in a research report on Monday, March 17th. StockNews.com downgraded MRC Global from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Finally, Loop Capital decreased their target price on 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 Stock Down 3.4 %

MRC stock traded down $0.41 during mid-day trading on Friday, reaching $11.51. The company had a trading volume of 118,344 shares, compared to its average volume of 615,195. The company has a market capitalization of $990.82 million, a price-to-earnings ratio of 13.22 and a beta of 1.96. The firm has a fifty day simple moving average of $12.92 and a 200 day simple moving average of $12.96. MRC Global Inc. has a fifty-two week low of $9.42 and a fifty-two week high of $15.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99.

MRC Global (NYSE:MRC - Get Free Report) last posted its earnings results on Friday, March 14th. The oil and gas company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $736.80 million for the quarter, compared to analyst estimates of $726.90 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. MRC Global's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 earnings per share. Analysts forecast that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

MRC Global declared that its board has initiated a share repurchase program on Friday, January 3rd that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 11% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

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.