Nordea Investment Management AB raised its position in McDermott International Inc. (NYSE:MDR) by 3.8% during the third quarter, Holdings Channel reports. The firm owned 215,900 shares of the company’s stock after buying an additional 7,900 shares during the period. Nordea Investment Management AB owned about 0.09% of McDermott International worth $1,082,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of McDermott International by 28.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,007,115 shares of the company’s stock worth $39,555,000 after buying an additional 1,776,201 shares during the period. ClariVest Asset Management LLC raised its stake in shares of McDermott International by 713.2% in the second quarter. ClariVest Asset Management LLC now owns 237,165 shares of the company’s stock worth $1,171,000 after buying an additional 208,000 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of McDermott International during the second quarter worth about $135,000. Chartwell Investment Partners LLC acquired a new stake in shares of McDermott International during the second quarter worth about $1,751,000. Finally, Pinnacle Holdings LLC raised its stake in shares of McDermott International by 2.3% in the second quarter. Pinnacle Holdings LLC now owns 155,293 shares of the company’s stock worth $767,000 after buying an additional 3,505 shares during the period. Institutional investors own 80.78% of the company’s stock.
McDermott International Inc. (NYSE:MDR) traded down 0.62% during midday trading on Friday, hitting $6.45. The stock had a trading volume of 1,112,377 shares. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 109.32 and a beta of 1.35. The company has a 50-day moving average price of $5.51 and a 200-day moving average price of $5.05. McDermott International Inc. has a 12-month low of $2.20 and a 12-month high of $6.52.
McDermott International (NYSE:MDR) last released its quarterly earnings data on Tuesday, October 25th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.16. The company had revenue of $558.54 million for the quarter, compared to the consensus estimate of $630.05 million. McDermott International had a return on equity of 6.41% and a net margin of 0.60%. The company’s quarterly revenue was down 30.7% compared to the same quarter last year. During the same period last year, the business posted $0.09 EPS. Equities analysts anticipate that McDermott International Inc. will post $0.31 EPS for the current year.
MDR has been the subject of a number of analyst reports. Imperial Capital reissued an “outperform” rating and set a $7.00 price objective on shares of McDermott International in a research report on Thursday, September 22nd. Zacks Investment Research downgraded McDermott International from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Deutsche Bank AG boosted their price objective on McDermott International from $4.00 to $5.00 and gave the stock a “hold” rating in a research report on Wednesday, October 26th. Finally, TheStreet raised McDermott International from a “sell” rating to a “hold” rating in a research report on Monday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. McDermott International presently has an average rating of “Hold” and an average price target of $5.11.
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.