Mercer International Inc. (NASDAQ:MERC) Sees Significant Drop in Short Interest

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) saw a significant decline in short interest in November. As of November 15th, there was short interest totalling 383,300 shares, a decline of 22.1% from the October 31st total of 492,000 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily volume of 612,500 shares, the short-interest ratio is presently 0.6 days.

Insider Activity at Mercer International

In other news, CFO Richard George Short bought 6,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $5.70 per share, with a total value of $34,200.00. Following the acquisition, the chief financial officer now owns 51,382 shares of the company’s stock, valued at approximately $292,877.40. This represents a 13.22 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Estrada Juan Carlos Bueno purchased 7,800 shares of the company’s stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $6.60 per share, with a total value of $51,480.00. Following the completion of the purchase, the chief executive officer now directly owns 67,615 shares in the company, valued at $446,259. This trade represents a 13.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 41,300 shares of company stock worth $252,650. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Mercer International

Large investors have recently added to or reduced their stakes in the stock. Entropy Technologies LP bought a new stake in shares of Mercer International during the third quarter valued at approximately $75,000. Russell Investments Group Ltd. purchased a new position in shares of Mercer International during the first quarter valued at $193,000. BNP Paribas Financial Markets raised its holdings in shares of 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. Quantbot Technologies LP lifted its stake in Mercer International by 505.8% in the third 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. Finally, Geode Capital Management LLC grew its holdings in 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 worth $3,559,000 after acquiring an additional 8,957 shares in the last quarter. 85.79% of the stock is owned by hedge funds and other institutional investors.

Mercer International Trading Down 0.6 %

Mercer International stock traded down $0.04 during midday trading on Friday, reaching $6.17. The stock had a trading volume of 105,639 shares, compared to its average volume of 352,533. The company has a quick ratio of 2.39, a current ratio of 3.79 and a debt-to-equity ratio of 3.09. The firm has a market cap of $412.59 million, a price-to-earnings ratio of -2.18 and a beta of 1.35. Mercer International has a 52-week low of $5.33 and a 52-week high of $11.20. The company has a fifty day moving average of $6.57 and a 200 day moving average of $7.37.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.03. Mercer International had a negative return on equity of 17.62% and a negative net margin of 9.33%. The firm had revenue of $502.14 million for the quarter, compared to the consensus estimate of $485.84 million. During the same period in the prior year, the business posted ($0.39) earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts anticipate that Mercer International will post -1.62 earnings per share for the current fiscal year.

Mercer International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Wednesday, December 18th will be issued a dividend of $0.075 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.30 dividend on an annualized basis and a yield of 4.86%. Mercer International’s payout ratio is -10.60%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com upgraded 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 set a $7.00 price objective on shares of Mercer International in a research report on Monday, November 4th. Finally, CIBC cut their target price on Mercer International from $10.00 to $8.50 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.13.

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.