Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) has earned a consensus rating of “Buy” from the ten ratings firms that are presently covering the stock. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $12.55.
Several equities research analysts have recently weighed in on the stock. RBC Capital Markets reissued an “outperform” rating on shares of Mercer International in a research report on Saturday, October 29th. Zacks Investment Research raised shares of Mercer International from a “sell” rating to a “hold” rating in a research report on Thursday, September 29th. Finally, TheStreet downgraded shares of Mercer International from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th.
Shares of Mercer International (NASDAQ:MERC) traded down 1.04% during midday trading on Friday, reaching $9.55. 39,772 shares of the company were exchanged. Mercer International has a 52-week low of $5.95 and a 52-week high of $10.98. The stock has a market capitalization of $617.46 million, a price-to-earnings ratio of 16.21 and a beta of 1.54. The company’s 50-day moving average price is $8.34 and its 200 day moving average price is $8.39.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Thursday, December 22nd will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Tuesday, December 20th. Mercer International’s payout ratio is 79.31%.
In other news, major shareholder Peter R. Kellogg bought 25,000 shares of Mercer International stock in a transaction on Thursday, October 27th. The stock was purchased at an average cost of $7.94 per share, with a total value of $198,500.00. Following the purchase, the insider now directly owns 2,734,268 shares of the company’s stock, valued at approximately $21,710,087.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Peter R. Kellogg bought 54,648 shares of Mercer International stock in a transaction on Tuesday, November 8th. The shares were purchased at an average cost of $8.30 per share, with a total value of $453,578.40. Following the completion of the purchase, the insider now directly owns 2,761,669 shares in the company, valued at $22,921,852.70. The disclosure for this purchase can be found here. Company insiders own 4.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MERC. Acrospire Investment Management LLC raised its position in Mercer International by 10.3% in the second quarter. Acrospire Investment Management LLC now owns 12,900 shares of the company’s stock worth $103,000 after buying an additional 1,200 shares during the last quarter. MAI Capital Management purchased a new position in Mercer International during the third quarter worth about $104,000. O Shaughnessy Asset Management LLC raised its position in Mercer International by 546.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 15,643 shares of the company’s stock worth $125,000 after buying an additional 13,225 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Mercer International by 3.9% in the second quarter. Parametric Portfolio Associates LLC now owns 20,971 shares of the company’s stock worth $167,000 after buying an additional 789 shares during the last quarter. Finally, Oak Associates Ltd. OH purchased a new position in Mercer International during the second quarter worth about $249,000. 58.41% of the stock is owned by hedge funds and other institutional investors.