McDermott International, Inc. (MDR) is Van Strum & Towne Inc.’s 10th Largest Position
Van Strum & Towne Inc. cut its stake in shares of McDermott International, Inc. (NYSE:MDR) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 670,042 shares of the oil and gas company’s stock after selling 8,000 shares during the period. McDermott International makes up approximately 3.1% of Van Strum & Towne Inc.’s holdings, making the stock its 10th largest position. Van Strum & Towne Inc.’s holdings in McDermott International were worth $4,804,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its stake in McDermott International by 6.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 399,873 shares of the oil and gas company’s stock valued at $2,699,000 after buying an additional 24,155 shares in the last quarter. 361 Capital LLC bought a new stake in McDermott International during the first quarter valued at about $186,000. LSV Asset Management boosted its stake in McDermott International by 57.5% in the first quarter. LSV Asset Management now owns 13,213,796 shares of the oil and gas company’s stock valued at $89,193,000 after buying an additional 4,822,700 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in McDermott International by 13.1% in the first quarter. Great West Life Assurance Co. Can now owns 176,532 shares of the oil and gas company’s stock valued at $1,192,000 after buying an additional 20,500 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in McDermott International during the first quarter valued at about $165,000. 73.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of McDermott International, Inc. (MDR) opened at 6.19 on Friday. The firm has a market capitalization of $1.76 billion, a PE ratio of 23.81 and a beta of 1.37. McDermott International, Inc. has a one year low of $4.41 and a one year high of $8.33. The firm’s 50 day moving average is $7.03 and its 200-day moving average is $6.90.
McDermott International (NYSE:MDR) last issued its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.03. The company had revenue of $788.20 million for the quarter, compared to the consensus estimate of $856.54 million. McDermott International had a net margin of 2.95% and a return on equity of 5.55%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 earnings per share. On average, equities research analysts predict that McDermott International, Inc. will post $0.42 earnings per share for the current fiscal year.
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Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price target on the stock in a report on Thursday, July 20th. BidaskClub raised shares of McDermott International from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Scotiabank reaffirmed a “buy” rating and issued a $9.00 price target on shares of McDermott International in a report on Friday, July 28th. TheStreet raised shares of McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. Finally, Scotia Howard Weill raised shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. McDermott International currently has an average rating of “Buy” and a consensus target price of $8.29.
About McDermott International
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects.
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