Crossmark Global Holdings Inc. purchased a new position in Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,740 shares of the basic materials company’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Walthausen & Co. LLC increased its stake in shares of Mercer International by 9.5% in the 4th quarter. Walthausen & Co. LLC now owns 895,199 shares of the basic materials company’s stock valued at $9,346,000 after acquiring an additional 77,950 shares in the last quarter. Meritage Portfolio Management bought a new stake in shares of Mercer International in the 4th quarter valued at $1,785,000. Opus Capital Group LLC increased its stake in shares of Mercer International by 2.4% in the 4th quarter. Opus Capital Group LLC now owns 166,411 shares of the basic materials company’s stock valued at $1,738,000 after acquiring an additional 3,905 shares in the last quarter. Arizona State Retirement System bought a new stake in shares of Mercer International in the 1st quarter valued at $897,000. Finally, Rhumbline Advisers bought a new stake in shares of Mercer International in the 1st quarter valued at $881,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Shares of MERC stock opened at $16.15 on Monday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 8.24 and a beta of 1.84. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.98 and a quick ratio of 2.65. Mercer International Inc. has a 12 month low of $9.36 and a 12 month high of $19.14.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. The business had revenue of $484.00 million during the quarter, compared to analyst estimates of $476.87 million. Mercer International had a net margin of 9.82% and a return on equity of 26.76%. Mercer International’s quarterly revenue was up 31.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 EPS. Analysts forecast that Mercer International Inc. will post 2.35 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Monday, June 24th will be issued a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a yield of 3.41%. This is an increase from Mercer International’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 21st. Mercer International’s payout ratio is currently 25.51%.

Several research firms have recently weighed in on MERC. Royal Bank of Canada lifted their price objective on shares of Mercer International from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. BidaskClub upgraded shares of Mercer International from a “sell” rating to a “hold” rating in a research note on Saturday, April 13th. TD Securities boosted their price target on shares of Mercer International from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Raymond James restated a “strong-buy” rating and set a $23.00 price target on shares of Mercer International in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Mercer International currently has an average rating of “Buy” and an average target price of $22.00.

WARNING: This piece was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2019/05/20/crossmark-global-holdings-inc-invests-240000-in-mercer-international-inc-merc.html.

About Mercer International

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood Kraft (NBSK) pulp in the United States, Europe, Asia, and internationally. The company operates in two segments, Pulp and Wood Products. It produces NBSK pulp primarily from wood chips and pulp logs; carbon neutral or green energy using carbon-neutral bio-fuels, such as black liquor and wood waste; and tall oil for use as a chemical additive and green energy source.

Read More: Why are percentage decliners important?

Want to see what other hedge funds are holding MERC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U).

Institutional Ownership by Quarter for Mercer International (NASDAQ:MERC)

Receive News & Ratings for Mercer International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercer International and related companies with MarketBeat.com's FREE daily email newsletter.