Teacher Retirement System of Texas Trims Position in MRC Global Inc. (NYSE:MRC)

Teacher Retirement System of Texas trimmed its stake in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 60.2% in the 1st quarter, according to its most recent disclosure with the SEC. 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 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. CarsonAllaria Wealth Management Ltd. grew its stake in MRC Global by 28.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 32,873 shares of the oil and gas company's stock valued at $377,000 after acquiring an additional 7,263 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in MRC Global by 52.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 23,234 shares of the oil and gas company's stock valued at $270,000 after acquiring an additional 8,034 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in MRC Global by 67.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 50,719 shares of the oil and gas company's stock valued at $582,000 after acquiring an additional 20,455 shares in the last quarter. Pullen Investment Management LLC purchased a new position in MRC Global during the first quarter valued at $883,000. Finally, SG Americas Securities LLC grew its stake in MRC Global by 19.6% during the first quarter. SG Americas Securities LLC now owns 44,586 shares of the oil and gas company's stock valued at $512,000 after acquiring an additional 7,301 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on MRC. Susquehanna cut 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. Wall Street Zen upgraded shares of MRC Global from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Loop Capital lowered their price objective on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus increased their price objective on shares of MRC Global from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, June 27th.

MRC Global Price Performance

MRC Global stock opened at $12.80 on Monday. The firm has a 50-day moving average price of $12.83 and a 200-day moving average price of $12.51. The firm has a market capitalization of $1.10 billion, a PE ratio of -116.36 and a beta of 1.61. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.70. 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 released its earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. The firm had revenue of $712.00 million during the quarter, compared to analyst estimates of $710.00 million. MRC Global had a net margin of 0.47% and a return on equity of 12.82%. The business's revenue was down 11.7% on a year-over-year basis. During the same quarter last year, the business earned $0.20 EPS. As a group, equities research analysts forecast that MRC Global Inc. will post 0.86 EPS for the current year.

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.

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