Sippican Capital Advisors Increases Stake in McDermott International Inc. (MDR)
Sippican Capital Advisors increased its stake in McDermott International Inc. (NYSE:MDR) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 320,843 shares of the company’s stock after buying an additional 3,185 shares during the period. McDermott International comprises about 1.9% of Sippican Capital Advisors’ investment portfolio, making the stock its 17th largest position. Sippican Capital Advisors owned 0.13% of McDermott International worth $1,585,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of MDR. James Investment Research Inc. bought a new stake in McDermott International during the second quarter valued at approximately $17,420,000. Teachers Advisors Inc. increased its stake in 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 during the last quarter. UBS Asset Management Americas Inc. increased its stake in 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 during the last quarter. JPMorgan Chase & Co. increased its stake in 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 during the last quarter. Finally, Springbok Capital Management LLC bought a new stake in McDermott International during the first quarter valued at approximately $2,438,000. Institutional investors and hedge funds own 78.97% of the company’s stock.
Shares of McDermott International Inc. (NYSE:MDR) traded up 0.21% during mid-day trading on Thursday, hitting $4.81. 1,992,094 shares of the stock traded hands. McDermott International Inc. has a 12-month low of $2.20 and a 12-month high of $6.00. The firm’s 50 day moving average price is $5.06 and its 200 day moving average price is $4.65. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 400.83 and a beta of 1.39.
McDermott International (NYSE:MDR) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.06. The firm earned $706.60 million during 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 quarterly revenue was down 32.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. On average, equities research analysts predict that McDermott International Inc. will post $0.13 EPS for the current fiscal year.
Several research analysts recently issued reports on MDR shares. Imperial Capital reissued an “outperform” rating and set a $7.00 target price on shares of McDermott International in a report on Friday, September 9th. Zacks Investment Research raised shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $6.00 target price for the company in a report on Friday, July 29th. Citigroup Inc. raised their target price on shares of McDermott International from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Finally, Credit Suisse Group AG reissued a “hold” rating and set a $4.41 target price on shares of McDermott International in a report on Saturday, June 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus 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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