Alambic Investment Management L.P. Invests $1.57 Million in McDermott International Inc (MDR)

Alambic Investment Management L.P. purchased a new stake in McDermott International Inc (NYSE:MDR) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 238,834 shares of the oil and gas company’s stock, valued at approximately $1,572,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of McDermott International by 31.0% in the 2nd quarter. Vanguard Group Inc. now owns 30,112,732 shares of the oil and gas company’s stock valued at $215,909,000 after purchasing an additional 7,129,111 shares during the period. Dimensional Fund Advisors LP increased its position in shares of McDermott International by 10.3% in the third quarter. Dimensional Fund Advisors LP now owns 23,082,635 shares of the oil and gas company’s stock valued at $167,811,000 after acquiring an additional 2,151,895 shares during the last quarter. State Street Corp increased its position in shares of McDermott International by 37.3% in the second quarter. State Street Corp now owns 8,384,938 shares of the oil and gas company’s stock valued at $60,118,000 after acquiring an additional 2,277,274 shares during the last quarter. Northern Trust Corp increased its position in shares of McDermott International by 19.9% in the second quarter. Northern Trust Corp now owns 5,671,706 shares of the oil and gas company’s stock valued at $40,666,000 after acquiring an additional 940,466 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of McDermott International by 6.3% in the third quarter. Van ECK Associates Corp now owns 4,403,203 shares of the oil and gas company’s stock valued at $32,011,000 after acquiring an additional 259,894 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

MDR has been the topic of a number of recent research reports. Deutsche Bank lowered their target price on McDermott International from $6.50 to $5.25 and set a “hold” rating on the stock in a research report on Tuesday, October 24th. Zacks Investment Research downgraded McDermott International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 25th. Scotiabank reaffirmed a “buy” rating and issued a $9.00 target price on shares of McDermott International in a research report on Wednesday, November 1st. Credit Suisse Group lowered their target price on McDermott International from $7.60 to $7.30 and set a “neutral” rating on the stock in a research report on Thursday, November 2nd. Finally, UBS Group lifted their target price on McDermott International from $7.00 to $7.50 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $7.93.

McDermott International Inc (MDR) opened at $7.90 on Tuesday. The firm has a market capitalization of $2,340.00, a P/E ratio of 14.91 and a beta of 1.58. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.30. McDermott International Inc has a 12-month low of $5.56 and a 12-month high of $9.07.

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McDermott International 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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