Teacher Retirement System of Texas Reduces Holdings in MRC Global Inc. $MRC

Teacher Retirement System of Texas cut its stake in shares of MRC Global Inc. (NYSE:MRC) by 9.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,393 shares of the oil and gas company’s stock after selling 9,269 shares during the quarter. Teacher Retirement System of Texas owned 0.10% of MRC Global worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Lord Abbett & CO. LLC boosted its holdings in MRC Global by 336.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 3,498,499 shares of the oil and gas company’s stock valued at $40,163,000 after acquiring an additional 2,696,044 shares during the period. Wellington Management Group LLP boosted its holdings in MRC Global by 5.4% during the 1st quarter. Wellington Management Group LLP now owns 3,105,144 shares of the oil and gas company’s stock valued at $35,647,000 after acquiring an additional 158,338 shares during the period. American Century Companies Inc. boosted its holdings in MRC Global by 14.2% during the 1st quarter. American Century Companies Inc. now owns 2,605,756 shares of the oil and gas company’s stock valued at $29,914,000 after acquiring an additional 324,110 shares during the period. Cramer Rosenthal Mcglynn LLC boosted its holdings in MRC Global by 64.0% during the 1st quarter. Cramer Rosenthal Mcglynn LLC now owns 1,303,210 shares of the oil and gas company’s stock valued at $14,961,000 after acquiring an additional 508,723 shares during the period. Finally, Nuveen LLC purchased a new stake in MRC Global during the 1st quarter valued at about $14,081,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Loop Capital cut MRC Global from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a report on Monday, October 27th. Susquehanna cut MRC Global from a “positive” rating to a “neutral” rating and set a $15.00 price objective for the company. in a report on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of MRC Global in a report on Wednesday, October 8th. Stifel Nicolaus dropped their price objective on MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, July 21st. Finally, Zacks Research upgraded MRC Global to a “hold” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, MRC Global has a consensus rating of “Hold” and an average price target of $15.67.

MRC Global Trading Down 0.5%

MRC opened at $13.77 on Thursday. The stock has a market cap of $1.17 billion, a PE ratio of -57.38 and a beta of 1.63. The company has a quick ratio of 1.00, a current ratio of 1.84 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average of $14.33 and a 200-day moving average of $13.58. MRC Global Inc. has a 52 week low of $9.23 and a 52 week high of $15.59.

MRC Global (NYSE:MRC) last released its earnings results on Thursday, May 26th. The oil and gas company reported ($0.07) EPS for the quarter. The firm had revenue of $609.00 million during the quarter. MRC Global had a negative net margin of 0.10% and a positive return on equity of 11.81%. Equities research analysts predict that MRC Global Inc. will post 0.86 earnings per share 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.