Teacher Retirement System of Texas Sells 146,073 Shares of MRC Global Inc. (NYSE:MRC)

Teacher Retirement System of Texas cut its position in MRC Global Inc. (NYSE:MRC - Free Report) by 60.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,662 shares of the oil and gas company's stock after selling 146,073 shares during the period. Teacher Retirement System of Texas owned 0.11% of MRC Global worth $1,110,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank acquired a new position in MRC Global in the fourth quarter valued at about $34,000. Sterling Capital Management LLC raised its stake in shares of MRC Global by 821.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company's stock worth $34,000 after acquiring an additional 2,406 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of MRC Global in the fourth quarter worth about $56,000. Quantinno Capital Management LP bought a new position in shares of MRC Global in the fourth quarter worth about $129,000. Finally, GAMMA Investing LLC raised its stake in shares of MRC Global by 1,576.2% in the first quarter. GAMMA Investing LLC now owns 14,063 shares of the oil and gas company's stock worth $161,000 after acquiring an additional 13,224 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

MRC Global Trading Up 2.6%

Shares of MRC traded up $0.36 on Thursday, reaching $13.99. 1,690,955 shares of the company's stock were exchanged, compared to its average volume of 707,087. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1.20 billion, a P/E ratio of -127.14 and a beta of 1.61. The business has a 50 day moving average price of $12.95 and a two-hundred day moving average price of $12.54. MRC Global Inc. has a 12 month low of $9.23 and a 12 month high of $15.59.

MRC Global (NYSE:MRC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.06. The business had revenue of $712.00 million during the quarter, compared to the consensus estimate of $710.00 million. MRC Global had a net margin of 0.47% and a return on equity of 12.82%. MRC Global's revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 earnings per share. Research analysts anticipate that MRC Global Inc. will post 0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of MRC Global from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Susquehanna dropped their target price on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Finally, Stifel Nicolaus boosted their target price on shares of MRC Global from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, June 27th.

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.