Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U)’s share price reached a new 52-week high and low during trading on Thursday . The company traded as low as $20.95 and last traded at $16.40, with a volume of 4765 shares. The stock had previously closed at $19.05.
MERC has been the subject of a number of recent analyst reports. ValuEngine raised shares of Mercer International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 22nd. BidaskClub raised shares of Mercer International from a “hold” rating to a “buy” rating in a research note on Saturday, May 19th. Credit Suisse Group raised shares of Mercer International from a “neutral” rating to an “outperform” rating in a research note on Friday, May 11th. Finally, Royal Bank of Canada raised their price objective on shares of Mercer International to $17.00 and gave the stock an “outperform” rating in a research note on Monday, May 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $15.92.
The company has a current ratio of 4.14, a quick ratio of 2.92 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $1.09 billion, a PE ratio of 12.69 and a beta of 1.67.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 6th. Shareholders of record on Wednesday, June 27th will be given a $0.125 dividend. The ex-dividend date is Tuesday, June 26th. This represents a $0.50 dividend on an annualized basis and a yield of 3.03%.
In other Mercer International news, Director Eric Lauritzen sold 11,200 shares of the stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $15.93, for a total value of $178,416.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 15,400 shares of company stock valued at $233,912. Insiders own 3.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its position in Mercer International by 3.8% in the 1st quarter. Russell Investments Group Ltd. now owns 348,776 shares of the basic materials company’s stock worth $4,335,000 after buying an additional 12,885 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Mercer International by 51.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 101,837 shares of the basic materials company’s stock worth $1,268,000 after buying an additional 34,507 shares in the last quarter. Opus Capital Group LLC purchased a new stake in Mercer International in the 1st quarter worth approximately $2,008,000. Thrivent Financial For Lutherans purchased a new stake in Mercer International in the 4th quarter worth approximately $963,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in Mercer International in the 4th quarter worth approximately $4,736,000. Institutional investors own 76.27% of the company’s stock.
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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