Mercer International (MERC) Downgraded by BidaskClub to Sell

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

MERC has been the topic of several other reports. CSFB lowered Mercer International from an outperform rating to a neutral rating and set a $15.00 price objective on the stock. in a research note on Friday, October 27th. Royal Bank Of Canada raised their price objective on Mercer International from $15.00 to $16.00 and gave the company an outperform rating in a research note on Monday, October 30th. Finally, Credit Suisse Group lowered Mercer International from an outperform rating to a neutral rating in a research note on Thursday, October 26th. One 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 a consensus price target of $16.19.

Shares of Mercer International (NASDAQ:MERC) opened at $13.35 on Wednesday. The firm has a market capitalization of $876.11, a PE ratio of 15.31 and a beta of 1.48. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.58 and a quick ratio of 2.44. Mercer International has a 12 month low of $9.80 and a 12 month high of $15.00.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Wednesday, December 27th will be paid a $0.125 dividend. The ex-dividend date is Tuesday, December 26th. This is a positive change from Mercer International’s previous quarterly dividend of $0.12. This represents a $0.50 annualized dividend and a yield of 3.75%. Mercer International’s dividend payout ratio (DPR) is 63.89%.

In other Mercer International news, major shareholder Peter R. Kellogg acquired 2,658,743 shares of Mercer International stock in a transaction that occurred on Tuesday, October 10th. The shares were acquired at an average cost of $12.41 per share, with a total value of $32,995,000.63. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Lauritzen sold 8,500 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $14.21, for a total value of $120,785.00. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 2,862,243 shares of company stock worth $35,359,001 and sold 333,500 shares worth $4,359,535. Company insiders own 4.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of MERC. Walthausen & Co. LLC raised its position in Mercer International by 8.1% in the second quarter. Walthausen & Co. LLC now owns 1,051,619 shares of the basic materials company’s stock valued at $12,094,000 after purchasing an additional 79,242 shares during the last quarter. Russell Investments Group Ltd. raised its position in Mercer International by 22.2% in the second quarter. Russell Investments Group Ltd. now owns 314,654 shares of the basic materials company’s stock valued at $3,618,000 after purchasing an additional 57,063 shares during the last quarter. Kennedy Capital Management Inc. raised its position in Mercer International by 14.1% in the second quarter. Kennedy Capital Management Inc. now owns 386,307 shares of the basic materials company’s stock valued at $4,443,000 after purchasing an additional 47,623 shares during the last quarter. Nationwide Fund Advisors raised its position in Mercer International by 16.5% in the second quarter. Nationwide Fund Advisors now owns 216,961 shares of the basic materials company’s stock valued at $2,495,000 after purchasing an additional 30,661 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Mercer International by 11.0% in the second quarter. Bank of New York Mellon Corp now owns 240,556 shares of the basic materials company’s stock valued at $2,767,000 after purchasing an additional 23,872 shares during the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

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About Mercer International

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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