Aegis Financial Corp Lowers stake in McDermott International (MDR)

McDermott International (MDR) : Aegis Financial Corp reduced its stake in McDermott International by 32.79% during the most recent quarter end. The investment management company now holds a total of 1,111,961 shares of McDermott International which is valued at $5,515,327 after selling 542,423 shares in McDermott International , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.McDermott International makes up approximately 4.97% of Aegis Financial Corp’s portfolio.

Other Hedge Funds, Including , Point72 Asset Management added MDR to its portfolio by purchasing 1,745,540 company shares during the most recent quarter which is valued at $8,657,878. McDermott International makes up approx 0.07% of Point72 Asset Management’s portfolio.Fairpointe Capital reduced its stake in MDR by selling 2,836,077 shares or 11.79% in the most recent quarter. The Hedge Fund company now holds 21,213,410 shares of MDR which is valued at $105,218,514. McDermott International makes up approx 2.18% of Fairpointe Capital’s portfolio.Hotchkis Wiley Capital Management reduced its stake in MDR by selling 10,047 shares or 0.12% in the most recent quarter. The Hedge Fund company now holds 8,479,045 shares of MDR which is valued at $42,056,063. McDermott International makes up approx 0.17% of Hotchkis Wiley Capital Management’s portfolio.Pacad Investment Ltd. boosted its stake in MDR in the latest quarter, The investment management firm added 48,600 additional shares and now holds a total of 61,900 shares of McDermott International which is valued at $307,024. McDermott International makes up approx 0.04% of Pacad Investment Ltd.’s portfolio.Blackrock Investment Management boosted its stake in MDR in the latest quarter, The investment management firm added 99,591 additional shares and now holds a total of 991,175 shares of McDermott International which is valued at $4,916,228. McDermott International makes up approx 0.01% of Blackrock Investment Management’s portfolio.

McDermott International closed down -0.02 points or -0.38% at $5.21 with 28,41,692 shares getting traded on Thursday. Post opening the session at $5.19, the shares hit an intraday low of $5.01 and an intraday high of $5.225 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, McDermott International reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.02. The company had revenue of $729.00 million for the quarter, compared to analysts expectations of $700.70 million. The company’s revenue was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.

Many Wall Street Analysts have commented on McDermott International. Company shares were Reiterated by Imperial Capital on Jul 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 7 from a previous price target of $6 .McDermott International was Initiated by Sterne Agee CRT to “Neutral” on May 24, 2016.

McDermott International Inc. is an engineering procurement construction and installation (EPCI) company focused on designing and executing offshore oil and gas projects across the world. The Company’s operating segments include Asia Pacific Americas Middle East and North Sea and Africa. The Asia Pacific segment serves customers in Australia Indonesia Vietnam Malaysia Thailand and India. The Americas segment serves customers in the United States Brazil Mexico Trinidad and Africa. The Middle East segment includes its North Sea and Africa operations which serves customers in Saudi Arabia Qatar the United Arab Emirates (U.A.E.) Kuwait India Azerbaijan Russia the North Sea and Africa. It delivers fixed and floating production facilities pipeline installations and subsea systems from concept to commissioning. Its customers include national integrated and other oil and gas companies and it operates in offshore oil and gas producing regions throughout the world.

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