First Trust Advisors LP increased its stake in McDermott International Inc. (NYSE:MDR) by 528.6% during the second quarter, Holdings Channel reports. The fund owned 330,044 shares of the company’s stock after buying an additional 277,543 shares during the period. First Trust Advisors LP owned 0.14% of McDermott International worth $1,630,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of MDR. James Investment Research Inc. acquired a new stake in shares of McDermott International during the second quarter valued at approximately $17,420,000. Emerald Acquisition Ltd. acquired a new stake in shares of McDermott International during the second quarter valued at approximately $6,147,000. Teachers Advisors Inc. increased its stake in shares of McDermott International by 33.7% in the first quarter. Teachers Advisors Inc. now owns 3,523,653 shares of the company’s stock valued at $14,412,000 after buying an additional 887,989 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of McDermott International by 15.3% in the first quarter. UBS Asset Management Americas Inc. now owns 6,616,809 shares of the company’s stock valued at $27,063,000 after buying an additional 877,527 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of McDermott International by 6,519.8% in the first quarter. JPMorgan Chase & Co. now owns 800,138 shares of the company’s stock valued at $3,273,000 after buying an additional 788,051 shares in the last quarter. Institutional investors own 78.97% of the company’s stock.
McDermott International Inc. (NYSE:MDR) traded down 2.522% during midday trading on Tuesday, reaching $4.445. The company’s stock had a trading volume of 1,577,500 shares. McDermott International Inc. has a one year low of $2.20 and a one year high of $6.00. The stock’s 50 day moving average price is $5.04 and its 200-day moving average price is $4.67. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 370.417 and a beta of 1.39.
McDermott International (NYSE:MDR) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.06. McDermott International had a net margin of 0.12% and a return on equity of 6.51%. The company earned $706.60 million during the quarter, compared to the consensus estimate of $753.43 million. During the same period in the previous year, the firm earned $0.04 earnings per share. McDermott International’s revenue for the quarter was down 32.5% on a year-over-year basis. On average, analysts forecast that McDermott International Inc. will post $0.13 EPS for the current fiscal year.
A number of research firms have recently issued reports on MDR. Imperial Capital restated an “outperform” rating and issued a $6.00 price target on shares of McDermott International in a research note on Wednesday, June 8th. Citigroup Inc. raised their price target on McDermott International from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Zacks Investment Research downgraded McDermott International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, Credit Suisse Group AG restated a “hold” rating and issued a $4.41 price target on shares of McDermott International in a research note on Saturday, June 4th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.04.
McDermott International Company Profile
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI) and module fabrication services for upstream field developments. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects.
Want to see what other hedge funds are holding MDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDermott International Inc. (NYSE:MDR).
Receive News & Ratings for McDermott International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDermott International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.