Nationwide Fund Advisors decreased its position in McDermott International Inc. (NYSE:MDR) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 402,333 shares of the company’s stock after selling 5,746 shares during the period. Nationwide Fund Advisors owned 0.17% of McDermott International worth $1,988,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in MDR. Virginia Retirement System bought a new position in shares of McDermott International during the first quarter worth approximately $382,000. TIAA CREF Investment Management LLC increased its position in shares of McDermott International by 6.5% in the first quarter. TIAA CREF Investment Management LLC now owns 1,467,528 shares of the company’s stock worth $6,002,000 after buying an additional 89,818 shares during the last quarter. Teachers Advisors Inc. increased its position 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 worth $14,412,000 after buying an additional 887,989 shares during the last quarter. Franklin Resources Inc. increased its position in shares of McDermott International by 18.3% in the first quarter. Franklin Resources Inc. now owns 2,033,100 shares of the company’s stock worth $8,315,000 after buying an additional 315,100 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of McDermott International by 7.5% in the first quarter. BlackRock Inc. now owns 31,880 shares of the company’s stock worth $130,000 after buying an additional 2,211 shares during the last quarter. Hedge funds and other institutional investors own 78.97% of the company’s stock.
McDermott International Inc. (NYSE:MDR) traded down 0.57% on Friday, reaching $5.25. The company had a trading volume of 104,330 shares. The firm has a 50-day moving average of $5.03 and a 200-day moving average of $4.75. McDermott International Inc. has a 12 month low of $2.20 and a 12 month high of $6.00. The stock has a market capitalization of $1.26 billion, a P/E ratio of 437.50 and a beta of 1.21.
McDermott International (NYSE:MDR) last announced its earnings results on Tuesday, July 26th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. The firm had revenue of $706.60 million for the quarter, compared to analysts’ expectations of $753.43 million. McDermott International had a return on equity of 6.51% and a net margin of 0.12%. McDermott International’s quarterly revenue was down 32.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 EPS. On average, equities research analysts expect that McDermott International Inc. will post $0.13 earnings per share for the current fiscal year.
MDR has been the topic of a number of analyst reports. Zacks Investment Research downgraded McDermott International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Citigroup Inc. lifted their price objective on McDermott International from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Finally, Imperial Capital lifted their target price on McDermott International from $6.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $5.04.
About McDermott International
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.
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