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

Teacher Retirement System of Texas grew its holdings in shares of MRC Global Inc. (NYSE:MRC) by 98.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 242,735 shares of the oil and gas company’s stock after purchasing an additional 120,588 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.28% of MRC Global worth $3,102,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Barclays PLC increased its holdings in MRC Global by 197.7% during the third quarter. Barclays PLC now owns 151,169 shares of the oil and gas company’s stock valued at $1,927,000 after buying an additional 100,384 shares during the last quarter. Empowered Funds LLC increased its stake in shares of MRC Global by 32.8% in the 4th quarter. Empowered Funds LLC now owns 376,014 shares of the oil and gas company’s stock worth $4,805,000 after purchasing an additional 92,874 shares in the last quarter. Jennison Associates LLC bought a new position in MRC Global in the 4th quarter worth $1,108,000. Wellington Management Group LLP lifted its position in MRC Global by 1.8% during the third quarter. Wellington Management Group LLP now owns 3,209,251 shares of the oil and gas company’s stock valued at $40,886,000 after purchasing an additional 55,553 shares in the last quarter. Finally, Pzena Investment Management LLC grew its holdings in MRC Global by 1.0% during the fourth quarter. Pzena Investment Management LLC now owns 5,825,650 shares of the oil and gas company’s stock valued at $74,452,000 after purchasing an additional 54,859 shares during the period. Institutional investors own 94.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Susquehanna decreased their price objective on MRC Global from $17.00 to $15.00 and set a “positive” rating on the stock in a research note on Monday, March 17th. StockNews.com cut shares of MRC Global from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. Stifel Nicolaus dropped their price target on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Finally, Loop Capital decreased their price objective on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th.

MRC Global Stock Performance

NYSE:MRC opened at $12.13 on Wednesday. The stock has a 50-day moving average price of $13.00 and a 200 day moving average price of $12.98. The stock has a market capitalization of $1.04 billion, a P/E ratio of 13.94 and a beta of 1.96. MRC Global Inc. has a 12-month low of $9.42 and a 12-month high of $15.41. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15.

MRC Global (NYSE:MRC) last announced its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The business had revenue of $736.80 million during the quarter, compared to analyst estimates of $726.90 million. During the same period last year, the firm posted $0.23 EPS. The company’s revenue was down 10.3% on a year-over-year basis. Equities research analysts forecast that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

MRC Global announced that its Board of Directors has approved a stock repurchase program on Friday, January 3rd that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 11% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

MRC Global Company 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.