Teacher Retirement System of Texas Increases Stock Holdings in MRC Global Inc. (NYSE:MRC)

Teacher Retirement System of Texas boosted its stake in shares of MRC Global Inc. (NYSE:MRC) by 98.7% during the 4th quarter, according to its most recent 13F filing with the 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’ holdings in MRC Global were worth $3,102,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new stake in shares of MRC Global in the fourth quarter valued at $233,000. Shaker Investments LLC OH purchased a new stake in MRC Global in the 4th quarter worth about $511,000. Barclays PLC lifted its stake in MRC Global by 197.7% in the third quarter. Barclays PLC now owns 151,169 shares of the oil and gas company’s stock worth $1,927,000 after purchasing an additional 100,384 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of MRC Global by 12.7% during the third quarter. JPMorgan Chase & Co. now owns 156,332 shares of the oil and gas company’s stock valued at $1,992,000 after buying an additional 17,609 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of MRC Global by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,956,725 shares of the oil and gas company’s stock valued at $24,934,000 after buying an additional 32,760 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MRC has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their price target on MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Loop Capital lowered their target price on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Susquehanna cut their price target on shares of MRC Global from $17.00 to $15.00 and set a “positive” rating on the stock in a report on Monday, March 17th. Finally, StockNews.com lowered shares of MRC Global from a “buy” rating to a “hold” rating in a report on Monday, March 17th.

MRC Global Trading Up 0.5 %

Shares of NYSE MRC opened at $12.13 on Wednesday. MRC Global Inc. has a twelve month low of $9.42 and a twelve month high of $15.41. The firm has a market cap of $1.04 billion, a PE ratio of 13.94 and a beta of 1.96. The business has a fifty day simple moving average of $13.00 and a two-hundred day simple moving average of $12.98. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15.

MRC Global (NYSE:MRC) last released its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company had revenue of $736.80 million during the quarter, compared to analyst estimates of $726.90 million. During the same period in the prior year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. Analysts expect 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 buyback plan on Friday, January 3rd that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 11% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.