Todays Report: The McDermott International Inc. (MDR) Stake Held by Concert Wealth Management Inc.

The McDermott International Inc. (MDR) Stake Held by Concert Wealth Management Inc.

Concert Wealth Management Inc. maintained its position in McDermott International Inc. (NYSE:MDR) during the second quarter, Holdings Channel reports. The institutional investor owned 67,800 shares of the company’s stock at the end of the second quarter. Concert Wealth Management Inc.’s holdings in McDermott International were worth $330,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Fairpointe Capital LLC raised its stake in shares of McDermott International by 0.5% in the first quarter. Fairpointe Capital LLC now owns 24,049,487 shares of the company’s stock worth $98,362,000 after buying an additional 124,696 shares during the period. UBS Asset Management Americas Inc. raised 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 worth $27,063,000 after buying an additional 877,527 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of McDermott International by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,886,709 shares of the company’s stock worth $24,077,000 after buying an additional 70,761 shares during the period. James Investment Research Inc. acquired a new stake in shares of McDermott International during the second quarter worth about $17,420,000. Finally, Teachers Advisors Inc. raised 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 worth $14,412,000 after buying an additional 887,989 shares during the period. 78.97% of the stock is currently owned by institutional investors.

Shares of McDermott International Inc. (NYSE:MDR) traded down 1.33% during trading on Friday, reaching $5.21. The company had a trading volume of 1,301,753 shares. The firm has a 50-day moving average price of $5.03 and a 200-day moving average price of $4.75. McDermott International Inc. has a 52-week low of $2.20 and a 52-week high of $6.00. The company has a market capitalization of $1.25 billion, a P/E ratio of 434.17 and a beta of 1.21.

McDermott International (NYSE:MDR) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.06. The business had revenue of $706.60 million for the quarter, compared to analyst estimates of $753.43 million. McDermott International had a return on equity of 6.51% and a net margin of 0.12%. The company’s revenue was down 32.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 EPS. On average, analysts predict that McDermott International Inc. will post $0.13 EPS for the current fiscal year.

A number of analysts have issued reports on MDR shares. Citigroup Inc. boosted their price target on shares of McDermott International from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Imperial Capital reiterated an “outperform” rating and set a $7.00 price target on shares of McDermott International in a research note on Thursday, September 22nd. Finally, Zacks Investment Research lowered shares of McDermott International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus 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.

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