Mercer International Inc. (NASDAQ:MERC - Get Free Report) TSE: MRI.U was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 337,500 shares, a decrease of 20.3% from the November 30th total of 423,300 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average trading volume of 394,400 shares, the days-to-cover ratio is presently 0.9 days.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of MERC. Geode Capital Management LLC raised its holdings 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 buying an additional 8,957 shares during the period. Quantbot Technologies LP boosted its holdings in Mercer International by 505.8% in the 3rd quarter. Quantbot Technologies LP now owns 49,483 shares of the basic materials company's stock worth $335,000 after acquiring an additional 41,315 shares during the period. BNP Paribas Financial Markets grew its position in Mercer International by 22.7% in the third 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 in the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Mercer International during the third quarter valued at approximately $75,000. Institutional investors and hedge funds own 85.79% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have commented on MERC shares. StockNews.com upgraded shares of Mercer International from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Royal Bank of Canada restated a "sector perform" rating and issued a $7.00 price objective on shares of Mercer International in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $9.13.
Check Out Our Latest Research Report on MERC
Mercer International Trading Down 1.5 %
Shares of NASDAQ MERC traded down $0.10 during midday trading on Friday, hitting $6.48. The stock had a trading volume of 222,098 shares, compared to its average volume of 353,716. The company has a fifty day moving average price of $6.41 and a 200 day moving average price of $6.90. The company has a market capitalization of $433.32 million, a price-to-earnings ratio of -2.29 and a beta of 1.32. Mercer International has a 1-year low of $5.33 and a 1-year high of $11.20. The company has a quick ratio of 2.39, a current ratio of 3.79 and a debt-to-equity ratio of 3.09.
Mercer International (NASDAQ:MERC - Get Free Report) TSE: MRI.U last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.03. Mercer International had a negative net margin of 9.33% and a negative return on equity of 17.62%. The company had revenue of $502.14 million during the quarter, compared to the consensus estimate of $485.84 million. During the same period in the previous year, the firm earned ($0.39) earnings per share. Mercer International's revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts predict that Mercer International will post -1.62 earnings per share for the current year.
Mercer International Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 18th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend was Wednesday, December 18th. Mercer International's dividend payout ratio (DPR) is presently -10.60%.
About Mercer International
(
Get Free Report)
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.
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