McDermott International, Inc. (MDR) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in McDermott International, Inc. (NYSE:MDR) by 2,372.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,327,801 shares of the oil and gas company’s stock after buying an additional 2,233,643 shares during the period. Principal Financial Group Inc. owned 0.82% of McDermott International worth $16,691,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas boosted its holdings in shares of McDermott International by 2.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 19,593 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 457 shares in the last quarter. Federated Investors Inc. PA boosted its holdings in shares of McDermott International by 2.0% in the 2nd quarter. Federated Investors Inc. PA now owns 23,565 shares of the oil and gas company’s stock valued at $169,000 after buying an additional 468 shares in the last quarter. Pitcairn Co. boosted its holdings in shares of McDermott International by 3.1% in the 2nd quarter. Pitcairn Co. now owns 64,663 shares of the oil and gas company’s stock valued at $464,000 after buying an additional 1,922 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of McDermott International by 13.0% in the 1st quarter. HighTower Advisors LLC now owns 17,396 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 2,000 shares in the last quarter. Finally, Tudor Investment Corp ET AL boosted its holdings in shares of McDermott International by 8.4% in the 1st quarter. Tudor Investment Corp ET AL now owns 36,018 shares of the oil and gas company’s stock valued at $243,000 after buying an additional 2,787 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Several brokerages have recently issued reports on MDR. Scotiabank restated a “buy” rating and issued a $9.00 target price on shares of McDermott International in a report on Friday, July 28th. BidaskClub cut shares of McDermott International from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. ValuEngine cut shares of McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. KeyCorp restated a “hold” rating on shares of McDermott International in a report on Friday, August 25th. Finally, TheStreet upgraded shares of McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.29.

Shares of McDermott International, Inc. (MDR) opened at 6.64 on Friday. The firm has a market cap of $1.89 billion, a PE ratio of 25.54 and a beta of 1.40. The company’s 50-day moving average is $6.26 and its 200-day moving average is $6.57. McDermott International, Inc. has a 52 week low of $4.41 and a 52 week high of $8.33.

McDermott International (NYSE:MDR) last released its earnings results 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 net margin of 2.95% and a return on equity of 5.55%. The business had revenue of $788.20 million for the quarter, compared to the consensus estimate of $856.54 million. During the same quarter in the previous year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Analysts forecast that McDermott International, Inc. will post $0.42 EPS for the current fiscal year.

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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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