Mercer International Inc. (MERC) Receives Consensus Recommendation of “Buy” from Analysts
Mercer International Inc. (NASDAQ:MERC) has received a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the firm. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $12.55.
MERC has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Mercer International from a “sell” rating to a “hold” rating in a research report on Thursday, September 29th. TheStreet cut shares of Mercer International from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th.
In other Mercer International news, major shareholder Peter R. Kellogg acquired 76,700 shares of Mercer International 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 purchase, the insider now owns 2,649,109 shares of the company’s stock, valued at $21,881,640.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.70% of the stock is currently owned by corporate insiders.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. acquired a new position in Mercer International during the second quarter worth $3,584,000. Walthausen & Co. LLC raised its position in Mercer International by 153.2% in the second quarter. Walthausen & Co. LLC now owns 386,148 shares of the company’s stock worth $3,081,000 after buying an additional 233,668 shares in the last quarter. California Public Employees Retirement System raised its position in Mercer International by 11.9% in the second quarter. California Public Employees Retirement System now owns 236,000 shares of the company’s stock worth $1,883,000 after buying an additional 25,100 shares in the last quarter. Keeley Asset Management Corp raised its position in Mercer International by 53.7% in the second quarter. Keeley Asset Management Corp now owns 203,170 shares of the company’s stock worth $1,621,000 after buying an additional 70,970 shares in the last quarter. Finally, Bogle Investment Management L P DE raised its position in Mercer International by 153.6% in the first quarter. Bogle Investment Management L P DE now owns 149,776 shares of the company’s stock worth $1,415,000 after buying an additional 90,711 shares in the last quarter. Institutional investors and hedge funds own 58.15% of the company’s stock.
Shares of Mercer International (NASDAQ:MERC) traded up 0.312% during midday trading on Wednesday, hitting $8.025. The company had a trading volume of 104,077 shares. The company’s 50-day moving average price is $8.40 and its 200 day moving average price is $8.55. Mercer International has a 12-month low of $5.95 and a 12-month high of $11.68. The company has a market capitalization of $518.86 million, a price-to-earnings ratio of 10.355 and a beta of 1.29.
Mercer International (NASDAQ:MERC) last posted its earnings results on Thursday, July 28th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.12. Mercer International had a return on equity of 12.44% and a net margin of 5.10%. Equities research analysts predict that Mercer International will post $0.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Monday, September 26th were paid a $0.115 dividend. The ex-dividend date was Thursday, September 22nd. This represents a $0.46 dividend on an annualized basis and a yield of 5.75%. Mercer International’s dividend payout ratio is 59.74%.
About Mercer International
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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