Mercer International Inc. (NASDAQ:MERC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Mercer International Inc. owns and operates a diverse pulp and paper business in the southern German states of Saxony and Thuringia, in the former East Germany. The Company operates it’s pulp business primarily through its subsidiaries, Spezialpapierfabrik Blankenstein GmbH and Zellstof-und Papierfabrik Rosenthal GmbH & Co. KG , and conducts its paper business through another subsidiary, Dresden Papier GmbH. “
A number of other research analysts have also weighed in on the stock. TheStreet lowered shares of Mercer International from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $15.00 price target on shares of Mercer International in a research note on Sunday, June 5th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $12.13.
Shares of Mercer International (NASDAQ:MERC) opened at 8.39 on Thursday. The firm’s 50-day moving average price is $8.41 and its 200 day moving average price is $8.60. The company has a market capitalization of $542.46 million, a PE ratio of 10.83 and a beta of 1.53. Mercer International has a 52 week low of $5.95 and a 52 week high of $11.68.
Mercer International (NASDAQ:MERC) last posted its earnings results on Thursday, July 28th. The company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.12. Mercer International had a net margin of 5.10% and a return on equity of 12.44%. Equities analysts predict that Mercer International will post $0.54 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Monday, September 26th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date of this dividend is Thursday, September 22nd. Mercer International’s dividend payout ratio (DPR) is 59.74%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MERC. Acrospire Investment Management LLC acquired a new position in Mercer International during the first quarter worth $111,000. O Shaughnessy Asset Management LLC increased its stake in shares of 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 in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Mercer International during the first quarter worth about $177,000. Parametric Portfolio Associates LLC increased its stake in shares of 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 in the last quarter. Finally, Oak Associates Ltd. OH purchased a new stake in shares of Mercer International during the second quarter worth about $249,000. 57.79% of the stock is currently owned by institutional investors and hedge funds.
About Mercer International
Mercer International Inc is engaged in producing (northern bleached softwood kraft) NBSK pulp. The Company operates in the pulp industry and produces pulp for resale, known as market pulp, in Germany. It also produces and sells tall oil, which is used as both a chemical additive and as a green energy source.
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