Mercer International (NASDAQ:MERC) Shares Pass Above 200-Day Moving Average - Here's Why

Mercer International Inc. (NASDAQ:MERC - Get Free Report) TSE: MRI.U's share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.58 and traded as high as $6.67. Mercer International shares last traded at $6.61, with a volume of 197,993 shares trading hands.

Wall Street Analyst Weigh In

Separately, Raymond James decreased their target price on Mercer International from $7.50 to $7.00 in a research report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, Mercer International currently has a consensus rating of "Hold" and an average price target of $8.25.

Mercer International Trading Down 1.7 %

The firm has a 50 day simple moving average of $6.77 and a 200 day simple moving average of $6.59. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.39 and a current ratio of 3.79. The firm has a market cap of $435.33 million, a P/E ratio of -5.13 and a beta of 1.20.

Mercer International (NASDAQ:MERC - Get Free Report) TSE: MRI.U last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.02 by $0.23. Mercer International had a negative return on equity of 5.18% and a negative net margin of 4.17%. The business had revenue of $488.41 million during the quarter, compared to the consensus estimate of $497.00 million. On average, equities research analysts predict that Mercer International Inc. will post -0.29 EPS for the current fiscal year.

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Mercer International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 26th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, March 26th. This represents a $0.30 annualized dividend and a yield of 4.61%. Mercer International's dividend payout ratio is currently -23.62%.

Institutional Trading of Mercer International

A number of large investors have recently modified their holdings of the business. KLP Kapitalforvaltning AS bought a new stake in shares of Mercer International during the 4th quarter valued at about $58,000. Entropy Technologies LP boosted its position in shares of Mercer International by 56.0% during the 4th quarter. Entropy Technologies LP now owns 17,270 shares of the basic materials company's stock valued at $112,000 after acquiring an additional 6,200 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Mercer International by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 525,532 shares of the basic materials company's stock valued at $3,559,000 after acquiring an additional 8,957 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Mercer International by 22.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 36,661 shares of the basic materials company's stock valued at $248,000 after acquiring an additional 6,786 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of Mercer International by 505.8% during the 3rd quarter. Quantbot Technologies LP now owns 49,483 shares of the basic materials company's stock valued at $335,000 after acquiring an additional 41,315 shares during the last quarter. Institutional investors own 85.79% of the company's stock.

About Mercer International

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.