Mercer International Inc. (MERC) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) from a hold rating to a buy rating in a research report report published on Monday, July 24th.

Other equities research analysts have also issued research reports about the company. Royal Bank Of Canada restated a hold rating and set a $12.00 price objective on shares of Mercer International in a research report on Tuesday, May 23rd. Zacks Investment Research lowered Mercer International from a buy rating to a hold rating in a research report on Wednesday, May 17th. TD Securities restated a hold rating and set a $18.00 price objective on shares of Mercer International in a research report on Monday, May 1st. Finally, Raymond James Financial, Inc. restated an outperform rating and set a $18.00 price objective on shares of Mercer International in a research report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Mercer International presently has an average rating of Hold and an average price target of $14.94.

Mercer International (NASDAQ:MERC) opened at 10.75 on Monday. The firm’s 50-day moving average price is $11.41 and its 200 day moving average price is $11.67. Mercer International has a 1-year low of $7.60 and a 1-year high of $12.98. The stock has a market cap of $698.46 million, a PE ratio of 18.31 and a beta of 1.57.

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The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 27th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Tuesday, September 26th. Mercer International’s dividend payout ratio (DPR) is currently 79.31%.

In related news, major shareholder Peter R. Kellogg acquired 52,283 shares of the stock in a transaction dated Friday, May 19th. The stock was purchased at an average cost of $11.12 per share, with a total value of $581,386.96. Following the completion of the purchase, the insider now directly owns 124,000 shares in the company, valued at approximately $1,378,880. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James Shepherd sold 4,560 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $10.91, for a total value of $49,749.60. Following the completion of the sale, the director now directly owns 31,450 shares of the company’s stock, valued at $343,119.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 373,891 shares of company stock worth $4,266,380 and have sold 29,560 shares worth $345,830. 4.90% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Acrospire Investment Management LLC raised its position in shares of Mercer International by 2,667.4% in the first quarter. Acrospire Investment Management LLC now owns 14,667 shares of the basic materials company’s stock valued at $172,000 after buying an additional 14,137 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Mercer International by 17.8% in the first quarter. Parametric Portfolio Associates LLC now owns 17,824 shares of the basic materials company’s stock valued at $209,000 after buying an additional 2,689 shares during the period. Renaissance Group LLC raised its position in shares of Mercer International by 2.4% in the first quarter. Renaissance Group LLC now owns 35,579 shares of the basic materials company’s stock valued at $416,000 after buying an additional 847 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of Mercer International by 1.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 42,870 shares of the basic materials company’s stock valued at $502,000 after buying an additional 468 shares during the period. Finally, Nationwide Fund Advisors raised its position in shares of Mercer International by 1,193.8% in the first quarter. Nationwide Fund Advisors now owns 186,300 shares of the basic materials company’s stock valued at $2,180,000 after buying an additional 171,900 shares during the period. 81.42% of the stock is owned by 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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