Mercer International Inc. (NASDAQ:MERC – Get Rating) (TSE:MRI.U) shares rose 3.7% during trading on Friday . The company traded as high as $12.78 and last traded at $12.78. Approximately 628 shares changed hands during trading, a decline of 100% from the average daily volume of 698,276 shares. The stock had previously closed at $12.32.
Analysts Set New Price Targets
MERC has been the subject of a number of recent research reports. Credit Suisse Group upped their price objective on Mercer International from $19.00 to $21.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 26th. Royal Bank of Canada upped their price objective on Mercer International from $17.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 2nd. Raymond James upped their price objective on Mercer International from $20.00 to $24.00 and gave the stock an "outperform" rating in a research note on Monday, July 25th. TD Securities upped their price objective on Mercer International from $16.50 to $18.00 and gave the stock a "hold" rating in a research note on Tuesday, August 2nd. Finally, StockNews.com raised Mercer International from a "hold" rating to a "buy" rating in a research note on Saturday, September 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $20.75.
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Mercer International Stock Performance
The company has a market cap of $813.89 million, a P/E ratio of 2.69 and a beta of 1.43. The company has a 50 day moving average price of $15.01 and a 200-day moving average price of $14.74. The company has a quick ratio of 2.99, a current ratio of 4.27 and a debt-to-equity ratio of 1.66.
Mercer International (NASDAQ:MERC – Get Rating) (TSE:MRI.U) last released its quarterly earnings results on Thursday, July 28th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. Mercer International had a return on equity of 42.77% and a net
margin of 14.11%. The company had revenue of $572.33 million during the quarter, compared to analysts' expectations of $484.73 million. During the same quarter in the prior year, the business posted $0.32 earnings per share. The company's revenue for the quarter was up 42.4% compared to the same quarter last year. Equities analysts expect that Mercer International Inc. will post 4.06 EPS for the current fiscal year.
Mercer International Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 28th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $0.30 annualized dividend and a yield of 2.44%. Mercer International's dividend payout ratio is currently 6.56%.
Insider Activity at Mercer International
In related news, Director Rainer Rettig sold 12,000 shares of the firm's stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $16.34, for a total transaction of $196,080.00. Following the completion of the transaction, the director now owns 10,893 shares of the company's stock, valued at $177,991.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Mercer International news, Director Keith Purchase sold 10,000 shares of the company's stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $17.01, for a total transaction of $170,100.00. Following the completion of the sale, the director now directly owns 67,393 shares of the company's stock, valued at $1,146,354.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rainer Rettig sold 12,000 shares of the firm's stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $16.34, for a total transaction of $196,080.00. Following the completion of the transaction, the director now owns 10,893 shares of the company's stock, valued at $177,991.62. The disclosure for this sale can be found here. Company insiders own 4.30% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP increased its position in shares of Mercer International by 79.7% in the second quarter. Quantbot Technologies LP now owns 20,018 shares of the basic materials company's stock worth $263,000 after acquiring an additional 8,878 shares in the last quarter. Credit Suisse AG increased its position in shares of Mercer International by 9.1% in the second quarter. Credit Suisse AG now owns 33,034 shares of the basic materials company's stock worth $434,000 after acquiring an additional 2,747 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Mercer International by 16.7% in the second quarter. Mutual of America Capital Management LLC now owns 6,775 shares of the basic materials company's stock worth $89,000 after acquiring an additional 970 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of Mercer International by 18.3% in the second quarter. New York State Teachers Retirement System now owns 25,236 shares of the basic materials company's stock worth $332,000 after acquiring an additional 3,900 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Mercer International by 18.4% in the second quarter. Russell Investments Group Ltd. now owns 13,054 shares of the basic materials company's stock worth $171,000 after acquiring an additional 2,031 shares in the last quarter. 73.66% of the stock is owned by hedge funds and other institutional investors.
Mercer International Company Profile
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Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) pulp in Europe, the United States, Asia, and internationally. The company operates through two segments, Pulp and Wood Products. It also generates and sells green energy produced from biomass cogeneration power plant to third party utilities.
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