AMG Funds LLC Has $1.58 Million Stake in McDermott International, Inc. (NYSE:MDR)

AMG Funds LLC trimmed its holdings in shares of McDermott International, Inc. (NYSE:MDR) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 220,134 shares of the oil and gas company’s stock after selling 4,312 shares during the period. AMG Funds LLC owned approximately 0.08% of McDermott International worth $1,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MDR. Arizona State Retirement System purchased a new position in McDermott International during the second quarter valued at $1,054,000. SG Americas Securities LLC lifted its position in McDermott International by 62.8% during the second 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 in the last quarter. Vanguard Group Inc. lifted its position in McDermott International by 3.2% during the first 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 in the last quarter. BNP Paribas Arbitrage SA lifted its position in McDermott International by 1,122.2% during the second 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 in the last quarter. Finally, Rhumbline Advisers lifted its position in McDermott International by 84.3% during the second quarter. Rhumbline Advisers now owns 562,878 shares of the oil and gas company’s stock valued at $4,036,000 after purchasing an additional 257,505 shares in the last quarter. Institutional investors and hedge funds own 87.09% of the company’s stock.

MDR has been the topic of a number of recent analyst reports. Zacks Investment Research raised 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 McDermott International from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. TheStreet raised McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. KeyCorp reaffirmed a “hold” rating on shares of McDermott International in a report on Friday, August 25th. Finally, ValuEngine cut McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. McDermott International presently has an average rating of “Hold” and a consensus target price of $8.47.

McDermott International, Inc. (NYSE MDR) opened at 7.01 on Friday. McDermott International, Inc. has a 52 week low of $4.41 and a 52 week high of $8.33. The company has a market cap of $1.99 billion, a P/E ratio of 26.96 and a beta of 1.40. The company has a 50-day moving average of $6.26 and a 200-day moving average of $6.56.

McDermott International (NYSE:MDR) last issued its quarterly earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 EPS 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 company had revenue of $788.20 million for the quarter, compared to analyst estimates of $856.54 million. During the same period last year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts predict that McDermott International, Inc. will post $0.42 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “AMG Funds LLC Has $1.58 Million Stake in McDermott International, Inc. (NYSE:MDR)” was first published by BBNS and is the property of of BBNS. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The correct version of this article can be accessed at https://baseballnewssource.com/markets/amg-funds-llc-has-1-58-million-position-in-mcdermott-international-inc-mdr/1602942.html.

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.

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

Receive News & Ratings for McDermott International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDermott International Inc. and related companies with our FREE daily email newsletter.

 


Latest News

American League Once Again Dominates National League
American League Once Again Dominates National League
Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22


Leave a Reply

 
© 2006-2017 BBNS.