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McDermott International Inc (MDR): Today's Featured Basic Materials Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

McDermott International (MDR) pushed the Basic Materials sector lower today making it today's featured Basic Materials laggard. The sector as a whole closed the day up 0.9%. By the end of trading, McDermott International fell $0.17 (-2.2%) to $7.48 on average volume. Throughout the day, 3,763,949 shares of McDermott International exchanged hands as compared to its average daily volume of 4,377,800 shares. The stock ranged in price between $7.48-$7.69 after having opened the day at $7.65 as compared to the previous trading day's close of $7.65. Other companies within the Basic Materials sector that declined today were: Andatee China Marine Fuel Services Corporat (AMCF), down 12.7%, Ceres (CERE), down 11.3%, Ossen Innovation (OSN), down 11.0% and BioAmber (BIOA), down 10.6%.

McDermott International, Inc. operates as an engineering, procurement, construction, and installation (EPCI) company worldwide. The company operates in three segments: Asia Pacific, Atlantic, and the Middle East. It focuses on designing and executing complex offshore oil and gas projects. McDermott International has a market cap of $1.7 billion and is part of the energy industry. Shares are up 17.8% year to date as of the close of trading on Thursday. Currently there are 5 analysts that rate McDermott International a buy, 1 analyst rates it a sell, and 8 rate it a hold.

TheStreet Ratings rates McDermott International as a hold. The company's strengths can be seen in multiple areas, such as its good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself.

On the positive front, Crosshair Energy (CXZ), up 21.2%, Atlatsa Resources (ATL), up 15.2%, Claude Resources (CGR), up 14.9% and International Tower Hill Mines (THM), up 11.5% , were all gainers within the basic materials sector with BP (BP) being today's featured basic materials sector leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the basic materials sector could consider Materials Select Sector SPDR (XLB) while those bearish on the basic materials sector could consider ProShares Short Basic Materials Fd (SBM).

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