Mercer International (MERC) Lowered to “Sell” at BidaskClub

BidaskClub lowered shares of Mercer International (NASDAQ:MERC) (TSE:MRI.U) from a hold rating to a sell rating in a research note released on Wednesday.

MERC has been the topic of several other research reports. CSFB cut Mercer International from an outperform rating to a neutral rating and set a $15.00 price target on the stock. in a research report on Friday, October 27th. Royal Bank Of Canada upgraded Mercer International from a sector perform rating to an outperform rating and boosted their price target for the company from $12.00 to $15.00 in a research report on Wednesday, October 18th. Finally, Credit Suisse Group cut Mercer International from an outperform rating to a neutral rating in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $16.19.

Shares of Mercer International (MERC) traded up $0.10 during mid-day trading on Wednesday, reaching $13.50. The company had a trading volume of 138,600 shares, compared to its average volume of 202,417. The firm has a market cap of $871.23, a PE ratio of 15.23 and a beta of 1.48. Mercer International has a 1 year low of $9.80 and a 1 year high of $15.00. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.58 and a quick ratio of 2.44.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Wednesday, December 27th will be given a dividend of $0.125 per share. This is a boost from Mercer International’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.50 annualized dividend and a yield of 3.70%. Mercer International’s payout ratio is presently 63.89%.

In other Mercer International news, major shareholder Peter R. Kellogg bought 125,000 shares of the company’s stock in a transaction on Tuesday, September 26th. The shares were bought at an average price of $11.40 per share, for a total transaction of $1,425,000.00. Following the transaction, the insider now owns 150,000 shares of the company’s stock, valued at approximately $1,710,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jimmy S. H. Lee sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $14.43, for a total value of $360,750.00. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 2,862,243 shares of company stock worth $35,359,001 and have sold 333,500 shares worth $4,359,535. Insiders own 4.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Walthausen & Co. LLC increased its position in Mercer International by 8.1% during the 2nd quarter. Walthausen & Co. LLC now owns 1,051,619 shares of the basic materials company’s stock worth $12,094,000 after purchasing an additional 79,242 shares during the period. Renaissance Group LLC increased its position in Mercer International by 9.7% during the 2nd quarter. Renaissance Group LLC now owns 39,013 shares of the basic materials company’s stock worth $449,000 after purchasing an additional 3,434 shares during the period. Russell Investments Group Ltd. increased its position in Mercer International by 22.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 314,654 shares of the basic materials company’s stock worth $3,618,000 after purchasing an additional 57,063 shares during the period. Geode Capital Management LLC increased its position in Mercer International by 3.0% during the 1st quarter. Geode Capital Management LLC now owns 283,990 shares of the basic materials company’s stock worth $3,322,000 after purchasing an additional 8,231 shares during the period. Finally, Kennedy Capital Management Inc. increased its position in Mercer International by 14.1% during the 2nd quarter. Kennedy Capital Management Inc. now owns 386,307 shares of the basic materials company’s stock worth $4,443,000 after purchasing an additional 47,623 shares during the period. Institutional investors own 79.00% of the company’s stock.

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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.

Analyst Recommendations for Mercer International (NASDAQ:MERC)

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