BidaskClub upgraded shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) from a hold rating to a buy rating in a research report sent to investors on Monday, July 24th.
Several other analysts also recently issued reports on MERC. Zacks Investment Research raised shares of Mercer International from a hold rating to a strong-buy rating and set a $14.00 price objective for the company in a research note on Wednesday, April 26th. Raymond James Financial, Inc. reaffirmed an outperform rating and set a $18.00 price target on shares of Mercer International in a research note on Friday, April 28th. TD Securities reaffirmed a hold rating and set a $18.00 price target on shares of Mercer International in a research note on Monday, May 1st. Finally, Royal Bank Of Canada reaffirmed a hold rating and set a $12.00 price target on shares of Mercer International in a research note on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $14.94.
Shares of Mercer International (MERC) opened at 10.95 on Monday. The stock has a 50 day moving average price of $11.34 and a 200-day moving average price of $11.64. Mercer International has a 1-year low of $7.60 and a 1-year high of $12.98. The company has a market cap of $711.45 million, a price-to-earnings ratio of 18.65 and a beta of 1.57.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 27th will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Tuesday, September 26th. Mercer International’s dividend payout ratio is presently 79.31%.
In other Mercer International news, major shareholder Peter R. Kellogg acquired 13,906 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were bought at an average cost of $11.17 per share, with a total value of $155,330.02. Following the completion of the acquisition, the insider now directly owns 130,189 shares in the company, valued at approximately $1,454,211.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Peter R. Kellogg acquired 3,293 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The shares were acquired at an average cost of $11.80 per share, for a total transaction of $38,857.40. Following the completion of the acquisition, the insider now owns 150,000 shares of the company’s stock, valued at $1,770,000. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 292,394 shares of company stock valued at $3,355,167 and have sold 29,560 shares valued at $345,830. Insiders own 4.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of MERC. O Shaughnessy Asset Management LLC raised its position in shares of Mercer International by 1.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 42,870 shares of the basic materials company’s stock valued at $502,000 after buying an additional 468 shares during the last quarter. Kennedy Capital Management Inc. raised its position in shares of Mercer International by 274.0% in the first quarter. Kennedy Capital Management Inc. now owns 338,684 shares of the basic materials company’s stock valued at $3,963,000 after buying an additional 248,130 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Mercer International by 13.4% in the first quarter. Russell Investments Group Ltd. now owns 257,591 shares of the basic materials company’s stock valued at $3,013,000 after buying an additional 30,536 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Mercer International by 1,193.8% in the first quarter. Nationwide Fund Advisors now owns 186,300 shares of the basic materials company’s stock valued at $2,180,000 after buying an additional 171,900 shares during the last quarter. Finally, Acrospire Investment Management LLC raised its position in shares of Mercer International by 2,667.4% in the first quarter. Acrospire Investment Management LLC now owns 14,667 shares of the basic materials company’s stock valued at $172,000 after buying an additional 14,137 shares during the last quarter. 81.41% of the stock is currently owned by institutional investors.
About Mercer International
Mercer International Inc is a producer of northern bleached softwood kraft (NBSK) pulp, which is pulp that is sold on the open market. The Company also produces and sells tall oil, a by-product of its production process, which is used as both a chemical additive and as a green energy source. It produces and sells NBSK pulp, which is a bleached kraft pulp manufactured using northern softwood.
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