Amalgamated Bank Increases Position in McDermott International, Inc. (MDR)

Amalgamated Bank boosted its position in shares of McDermott International, Inc. (NYSE:MDR) by 26.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,508 shares of the oil and gas company’s stock after buying an additional 8,138 shares during the quarter. Amalgamated Bank’s holdings in McDermott International were worth $276,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Arizona State Retirement System acquired a new position in shares of McDermott International in the 2nd quarter valued at $1,054,000. SG Americas Securities LLC boosted its position in shares of McDermott International by 62.8% in the 2nd quarter. SG Americas Securities LLC now owns 195,251 shares of the oil and gas company’s stock valued at $1,400,000 after purchasing an additional 75,332 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of McDermott International by 1,122.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 91,504 shares of the oil and gas company’s stock valued at $656,000 after purchasing an additional 84,017 shares during the period. Vanguard Group Inc. boosted its position in shares of McDermott International by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 22,983,621 shares of the oil and gas company’s stock valued at $155,139,000 after purchasing an additional 703,996 shares during the period. Finally, Thompson Siegel & Walmsley LLC acquired a new position in shares of McDermott International in the 2nd quarter valued at $17,846,000. 87.09% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on MDR. Scotiabank reiterated a “buy” rating and issued a $9.00 price target on shares of McDermott International in a research report on Friday, July 28th. KeyCorp reiterated a “hold” rating on shares of McDermott International in a research report on Friday, October 6th. BidaskClub lowered McDermott International from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. TheStreet upgraded McDermott International from a “c” rating to a “b-” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price objective for the company in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. McDermott International currently has an average rating of “Hold” and an average price target of $8.47.

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Shares of McDermott International, Inc. (NYSE:MDR) opened at 7.27 on Thursday. The stock has a market capitalization of $2.06 billion, a P/E ratio of 27.96 and a beta of 1.41. The stock’s 50 day moving average price is $6.70 and its 200-day moving average price is $6.64. McDermott International, Inc. has a 1-year low of $4.96 and a 1-year high of $8.33.

McDermott International (NYSE:MDR) last posted its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.03). McDermott International had a return on equity of 5.55% and a net margin of 2.95%. The firm had revenue of $788.20 million for the quarter, compared to analyst estimates of $856.54 million. During the same period in the prior year, the company earned $0.07 earnings per share. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts anticipate that McDermott International, Inc. will post $0.42 EPS for the current fiscal year.

McDermott International Company Profile

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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Institutional Ownership by Quarter for McDermott International (NYSE:MDR)

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