California State Teachers Retirement System Sells 15,376 Shares of MRC Global Inc (MRC)

California State Teachers Retirement System cut its holdings in MRC Global Inc (NYSE:MRC) by 9.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,047 shares of the oil and gas company’s stock after selling 15,376 shares during the period. California State Teachers Retirement System owned approximately 0.15% of MRC Global worth $2,502,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Suntrust Banks Inc. boosted its holdings in MRC Global by 1.2% in the second quarter. Suntrust Banks Inc. now owns 18,307 shares of the oil and gas company’s stock worth $302,000 after purchasing an additional 215 shares in the last quarter. Broadview Advisors LLC boosted its holdings in MRC Global by 0.8% in the second quarter. Broadview Advisors LLC now owns 100,550 shares of the oil and gas company’s stock worth $1,661,000 after purchasing an additional 800 shares in the last quarter. Wayne Hummer Investments L.L.C. boosted its holdings in MRC Global by 13.4% in the third quarter. Wayne Hummer Investments L.L.C. now owns 32,315 shares of the oil and gas company’s stock worth $565,000 after purchasing an additional 3,815 shares in the last quarter. American International Group Inc. boosted its holdings in MRC Global by 8.1% in the third quarter. American International Group Inc. now owns 59,936 shares of the oil and gas company’s stock worth $1,048,000 after purchasing an additional 4,481 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in MRC Global by 13.3% in the second quarter. Voya Investment Management LLC now owns 42,040 shares of the oil and gas company’s stock worth $695,000 after purchasing an additional 4,920 shares in the last quarter. Hedge funds and other institutional investors own 94.08% of the company’s stock.

A number of equities research analysts recently issued reports on MRC shares. Cowen set a $24.00 price objective on shares of MRC Global and gave the stock a “buy” rating in a report on Friday, October 6th. Robert W. Baird reiterated a “hold” rating and issued a $21.00 price objective on shares of MRC Global in a report on Monday, October 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price objective on shares of MRC Global in a report on Tuesday, October 17th. Zacks Investment Research cut shares of MRC Global from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, ValuEngine cut shares of MRC Global from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. MRC Global presently has a consensus rating of “Hold” and a consensus target price of $20.22.

MRC Global Inc (MRC) opened at $18.98 on Friday. The firm has a market cap of $1,790.00, a price-to-earnings ratio of -67.79, a price-to-earnings-growth ratio of 2.02 and a beta of 1.60. The company has a current ratio of 2.31, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. MRC Global Inc has a 52-week low of $14.01 and a 52-week high of $22.26.

MRC Global declared that its board has authorized a share buyback program on Thursday, November 2nd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the oil and gas company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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MRC Global Profile

MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.

Institutional Ownership by Quarter for MRC Global (NYSE:MRC)

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