Canal Insurance CO Has $7.08 Million Stake in Merck & Co., Inc. (NYSE:MRK)

Canal Insurance CO raised its position in shares of Merck & Co., Inc. (NYSE:MRK) by 18.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 130,000 shares of the company’s stock after buying an additional 20,000 shares during the quarter. Merck & Co., Inc. comprises about 2.5% of Canal Insurance CO’s investment portfolio, making the stock its 14th largest holding. Canal Insurance CO’s holdings in Merck & Co., Inc. were worth $7,081,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MRK. Santori & Peters Inc. purchased a new position in shares of Merck & Co., Inc. in the 4th quarter valued at approximately $110,000. Stevens First Principles Investment Advisors raised its position in shares of Merck & Co., Inc. by 79.3% in the 4th quarter. Stevens First Principles Investment Advisors now owns 2,080 shares of the company’s stock valued at $117,000 after purchasing an additional 920 shares during the last quarter. Bedel Financial Consulting Inc. purchased a new position in shares of Merck & Co., Inc. in the 1st quarter valued at approximately $122,000. Avestar Capital LLC purchased a new position in shares of Merck & Co., Inc. in the 4th quarter valued at approximately $130,000. Finally, WealthTrust Arizona LLC raised its position in shares of Merck & Co., Inc. by 103.7% in the 4th quarter. WealthTrust Arizona LLC now owns 2,495 shares of the company’s stock valued at $140,000 after purchasing an additional 1,270 shares during the last quarter. 73.05% of the stock is owned by institutional investors and hedge funds.

In related news, insider Weir Mirian M. Graddick sold 24,000 shares of Merck & Co., Inc. stock in a transaction on Monday, April 16th. The shares were sold at an average price of $58.00, for a total value of $1,392,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Julie L. Gerberding sold 9,972 shares of Merck & Co., Inc. stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $59.66, for a total transaction of $594,929.52. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.



Shares of Merck & Co., Inc. opened at $61.56 on Friday, according to MarketBeat. The company has a market cap of $168.05 billion, a PE ratio of 15.47, a PEG ratio of 2.24 and a beta of 0.76. Merck & Co., Inc. has a 12 month low of $52.83 and a 12 month high of $66.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.10 and a current ratio of 1.42.

Merck & Co., Inc. (NYSE:MRK) last issued its quarterly earnings data on Tuesday, May 1st. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.05. Merck & Co., Inc. had a net margin of 4.31% and a return on equity of 30.93%. The business had revenue of $10.04 billion for the quarter, compared to analysts’ expectations of $10.09 billion. During the same quarter last year, the company earned $0.88 EPS. The business’s revenue was up 6.4% on a year-over-year basis. analysts forecast that Merck & Co., Inc. will post 4.23 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 9th. Investors of record on Friday, June 15th will be paid a $0.48 dividend. The ex-dividend date is Thursday, June 14th. This represents a $1.92 dividend on an annualized basis and a yield of 3.12%. Merck & Co., Inc.’s dividend payout ratio is currently 48.24%.

Several brokerages recently commented on MRK. TheStreet raised shares of Merck & Co., Inc. from a “c+” rating to a “b-” rating in a research report on Friday, June 8th. Zacks Investment Research raised shares of Merck & Co., Inc. from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Thursday, June 7th. Deutsche Bank reissued a “hold” rating on shares of Merck & Co., Inc. in a research report on Wednesday, April 25th. BMO Capital Markets raised their price target on shares of Merck & Co., Inc. from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, April 26th. Finally, Bank of America raised their price target on shares of Merck & Co., Inc. from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, April 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $66.05.

Merck & Co., Inc. Profile

Merck & Co, Inc provides healthcare solutions worldwide. It operates in four segments: Pharmaceutical, Animal Health, Healthcare Services, and Alliances. The company offers therapeutic and preventive agents to treat cardiovascular diseases, type 2 diabetes, asthma, nasal allergy symptoms, allergic rhinitis, chronic hepatitis C virus, HIV-1 infection, fungal, intra-abdominal infections, hypertension, arthritis and pain, inflammatory, osteoporosis, and fertility diseases.

Institutional Ownership by Quarter for Merck & Co., Inc. (NYSE:MRK)

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