Mercer International Inc. (MERC) Upgraded at BidaskClub

BidaskClub upgraded shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) from a sell rating to a hold rating in a research report report published on Saturday morning.

MERC has been the subject of several other reports. Raymond James Financial, Inc. restated an outperform rating and issued a $18.00 price target on shares of Mercer International in a report on Friday, April 28th. Zacks Investment Research upgraded Mercer International from a hold rating to a strong-buy rating and set a $14.00 price objective for the company in a report on Wednesday, April 26th. Royal Bank Of Canada reiterated a hold rating and set a $12.00 price objective on shares of Mercer International in a report on Tuesday, May 23rd. Finally, TD Securities increased their price objective on Mercer International from $13.00 to $15.75 and gave the stock a hold rating in a report on Monday, July 31st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $14.94.

Shares of Mercer International (NASDAQ MERC) opened at 10.95 on Friday. Mercer International has a one year low of $7.60 and a one year high of $12.98. The firm has a market capitalization of $711.45 million, a price-to-earnings ratio of 18.65 and a beta of 1.57. The stock’s 50 day moving average price is $11.33 and its 200 day moving average price is $11.62.

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 27th will be issued a dividend of $0.115 per share. The ex-dividend date is Tuesday, September 26th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.20%. Mercer International’s payout ratio is presently 79.31%.

In related news, major shareholder Peter R. Kellogg purchased 21,557 shares of Mercer International stock in a transaction that occurred on Thursday, June 8th. The stock was purchased at an average cost of $11.43 per share, with a total value of $246,396.51. Following the completion of the transaction, the insider now owns 138,200 shares of the company’s stock, valued at approximately $1,579,626. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Peter R. Kellogg purchased 5,428 shares of Mercer International stock in a transaction that occurred on Wednesday, May 31st. The shares were bought at an average cost of $11.61 per share, with a total value of $63,019.08. Following the completion of the transaction, the insider now directly owns 130,189 shares of the company’s stock, valued at approximately $1,511,494.29. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 278,488 shares of company stock valued at $3,199,837 and have sold 28,560 shares valued at $333,730. 4.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Walthausen & Co. LLC boosted its position in shares of Mercer International by 8.1% in the second quarter. Walthausen & Co. LLC now owns 1,051,619 shares of the basic materials company’s stock valued at $12,094,000 after buying an additional 79,242 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Mercer International by 9.3% in the second quarter. Parametric Portfolio Associates LLC now owns 19,478 shares of the basic materials company’s stock valued at $224,000 after buying an additional 1,654 shares during the period. Nationwide Fund Advisors boosted its position in shares of Mercer International by 16.5% in the second quarter. Nationwide Fund Advisors now owns 216,961 shares of the basic materials company’s stock valued at $2,495,000 after buying an additional 30,661 shares during the period. Kennedy Capital Management Inc. boosted its position in shares of Mercer International by 14.1% in the second quarter. Kennedy Capital Management Inc. now owns 386,307 shares of the basic materials company’s stock valued at $4,443,000 after buying an additional 47,623 shares during the period. Finally, Renaissance Group LLC boosted its position in shares of Mercer International by 9.7% in the second quarter. Renaissance Group LLC now owns 39,013 shares of the basic materials company’s stock valued at $449,000 after buying an additional 3,434 shares during the period. 81.41% of the stock is owned by hedge funds and other institutional investors.

Mercer International Company Profile

Mercer International Inc is a producer of northern bleached softwood kraft (NBSK) pulp, which is pulp that is sold on the open market. The Company also produces and sells tall oil, a by-product of its production process, which is used as both a chemical additive and as a green energy source. It produces and sells NBSK pulp, which is a bleached kraft pulp manufactured using northern softwood.

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