Mercer International Inc. (MERC) Given Consensus Recommendation of “Buy” by Analysts
Shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) have been given a consensus rating of “Buy” by the ten ratings firms that are presently covering the firm. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $12.55.
A number of brokerages have issued reports on MERC. TheStreet lowered Mercer International from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Zacks Investment Research lowered Mercer International from a “hold” rating to a “sell” rating in a research report on Friday, October 21st. Finally, RBC Capital Markets reissued an “outperform” rating on shares of Mercer International in a research report on Saturday, October 29th.
Mercer International (NASDAQ:MERC) traded down 1.04% during mid-day trading on Friday, reaching $9.55. The company had a trading volume of 39,772 shares. The firm has a market capitalization of $617.46 million, a PE ratio of 16.21 and a beta of 1.54. Mercer International has a 52 week low of $5.95 and a 52 week high of $10.98. The stock’s 50-day moving average price is $8.34 and its 200 day moving average price is $8.39.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Thursday, December 22nd will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Tuesday, December 20th. Mercer International’s dividend payout ratio is currently 79.31%.
In other Mercer International news, major shareholder Peter R. Kellogg bought 54,648 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The shares were purchased at an average price of $8.30 per share, with a total value of $453,578.40. Following the completion of the acquisition, the insider now directly owns 2,761,669 shares of the company’s stock, valued at approximately $22,921,852.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Peter R. Kellogg bought 76,700 shares of the company’s stock in a transaction that occurred on Wednesday, October 12th. The stock was acquired at an average cost of $8.26 per share, for a total transaction of $633,542.00. Following the acquisition, the insider now directly owns 2,649,109 shares of the company’s stock, valued at $21,881,640.34. The disclosure for this purchase can be found here. Insiders own 4.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt raised its position in Mercer International by 75.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,900 shares of the company’s stock valued at $370,000 after buying an additional 3,400 shares during the period. MAI Capital Management acquired a new position in Mercer International during the third quarter valued at approximately $104,000. Acrospire Investment Management LLC raised its position in Mercer International by 10.3% in the second quarter. Acrospire Investment Management LLC now owns 12,900 shares of the company’s stock valued at $103,000 after buying an additional 1,200 shares during the period. O Shaughnessy Asset Management LLC raised its position in Mercer International by 546.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 15,643 shares of the company’s stock valued at $125,000 after buying an additional 13,225 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in Mercer International by 3.9% in the second quarter. Parametric Portfolio Associates LLC now owns 20,971 shares of the company’s stock valued at $167,000 after buying an additional 789 shares during the period. 58.41% of the stock is currently owned by hedge funds and other institutional investors.
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Mercer International Company Profile
Mercer International Inc is engaged in producing (northern bleached softwood kraft) NBSK pulp. The Company operates in the pulp industry and produces pulp for resale, known as market pulp, in Germany. It also produces and sells tall oil, which is used as both a chemical additive and as a green energy source.
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