McDermott International Inc. (MDR) Shares Bought by Acadian Asset Management LLC
Acadian Asset Management LLC boosted its position in McDermott International Inc. (NYSE:MDR) by 297.5% during the second quarter, Holdings Channel reports. The fund owned 165,636 shares of the company’s stock after buying an additional 123,967 shares during the period. Acadian Asset Management LLC’s holdings in McDermott International were worth $819,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. Mariner Wealth Advisors LLC purchased a new stake in shares of McDermott International during the first quarter worth about $137,000. TIAA CREF Investment Management LLC increased its stake 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. Algert Global LLC increased its stake in shares of McDermott International by 13.6% in the first quarter. Algert Global LLC now owns 48,371 shares of the company’s stock worth $198,000 after buying an additional 5,781 shares during the last quarter. Springbok Capital Management LLC purchased a new stake in shares of McDermott International during the first quarter worth about $2,438,000. Finally, BlackRock Inc. increased its stake 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 79.15% of the company’s stock.
McDermott International Inc. (NYSE:MDR) traded down 1.64% on Friday, reaching $4.80. 2,549,304 shares of the company’s stock traded hands. The firm has a market cap of $1.15 billion, a PE ratio of 400.00 and a beta of 1.39. The firm’s 50-day moving average is $5.10 and its 200 day moving average is $4.61. McDermott International Inc. has a 12 month low of $2.20 and a 12 month high of $6.00.
McDermott International (NYSE:MDR) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.06. The company had revenue of $706.60 million for the quarter, compared to analysts’ expectations of $753.43 million. McDermott International had a net margin of 0.12% and a return on equity of 6.51%. McDermott International’s revenue for the quarter was down 32.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.04 earnings per share. Equities analysts predict that McDermott International Inc. will post $0.13 EPS for the current year.
A number of equities research analysts have recently weighed in on the stock. Imperial Capital restated an “outperform” rating and issued a $7.00 price target on shares of McDermott International in a research note on Friday, September 9th. Citigroup Inc. raised their price target on shares of McDermott International from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Zacks Investment Research downgraded shares of McDermott International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Sterne Agee CRT assumed coverage on shares of McDermott International in a research note on Tuesday, May 24th. They issued a “neutral” rating on the stock. 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 equities research analysts have rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. McDermott International has an average rating of “Hold” and an average price target 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.
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