Shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) have been given a consensus recommendation of “Buy” by the seven brokerages that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $19.13.
Several research firms have commented on MERC. BidaskClub raised shares of Mercer International from a “hold” rating to a “buy” rating in a report on Saturday, May 19th. Credit Suisse Group raised shares of Mercer International from a “neutral” rating to an “outperform” rating in a report on Friday, May 11th. Royal Bank of Canada raised their target price on shares of Mercer International to $17.00 and gave the company an “outperform” rating in a report on Monday, May 7th. ValuEngine lowered shares of Mercer International from a “buy” rating to a “hold” rating in a report on Friday, July 20th. Finally, Raymond James raised their target price on shares of Mercer International from $19.00 to $19.50 and gave the company an “outperform” rating in a report on Friday.
Mercer International traded up $0.20, hitting $17.10, during mid-day trading on Friday, Marketbeat reports. The stock had a trading volume of 508,072 shares, compared to its average volume of 194,719. The company has a quick ratio of 2.92, a current ratio of 4.14 and a debt-to-equity ratio of 1.22. Mercer International has a 52 week low of $10.45 and a 52 week high of $17.95. The firm has a market cap of $1.09 billion, a P/E ratio of 12.69 and a beta of 1.64.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Wednesday, September 26th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Tuesday, September 25th.
In related news, Director Eric Lauritzen sold 11,200 shares of Mercer International stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $15.93, for a total transaction of $178,416.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of Mercer International by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 368,777 shares of the basic materials company’s stock valued at $5,272,000 after purchasing an additional 6,282 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Mercer International by 3.8% during the 1st quarter. Russell Investments Group Ltd. now owns 348,776 shares of the basic materials company’s stock valued at $4,335,000 after purchasing an additional 12,885 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Mercer International by 377.8% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 21,500 shares of the basic materials company’s stock valued at $376,000 after purchasing an additional 17,000 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Mercer International by 51.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 101,837 shares of the basic materials company’s stock valued at $1,268,000 after purchasing an additional 34,507 shares during the last quarter. Finally, Opus Capital Group LLC bought a new stake in shares of Mercer International during the 1st quarter valued at approximately $2,008,000. 76.26% of the stock is currently owned by institutional investors.
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.
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