Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) announced a quarterly dividend on Friday, October 27th, Wall Street Journal reports. Stockholders of record on Wednesday, December 27th will be paid a dividend of 0.125 per share by the basic materials company on Thursday, January 4th. This represents a $0.50 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Tuesday, December 26th. This is an increase from Mercer International’s previous quarterly dividend of $0.12.
Shares of Mercer International (NASDAQ:MERC) opened at $14.30 on Friday. Mercer International has a 52 week low of $8.30 and a 52 week high of $15.00. The stock has a market capitalization of $929.74, a P/E ratio of 16.25 and a beta of 1.52. The company has a quick ratio of 2.44, a current ratio of 3.58 and a debt-to-equity ratio of 1.40.
In other Mercer International news, Director Eric Lauritzen sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $10.96, for a total value of $54,800.00. Following the transaction, the director now owns 64,085 shares of the company’s stock, valued at $702,371.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jimmy S. H. Lee sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $10.94, for a total transaction of $273,500.00. Following the completion of the transaction, the insider now directly owns 2,211,345 shares in the company, valued at approximately $24,192,114.30. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 2,858,743 shares of company stock worth $35,311,751 and have sold 238,500 shares worth $2,938,085. Company insiders own 4.90% of the company’s stock.
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A number of analysts have recently commented on MERC shares. BidaskClub downgraded Mercer International from a “hold” rating to a “sell” rating in a report on Friday, August 11th. TD Securities upped their price objective on Mercer International from $13.00 to $15.75 and gave the stock a “hold” rating in a report on Monday, July 31st. Royal Bank Of Canada increased their price target on Mercer International from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Monday, October 30th. Credit Suisse Group downgraded Mercer International from an “outperform” rating to a “neutral” rating in a report on Thursday, October 26th. Finally, CSFB cut shares of Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Friday, October 27th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Mercer International presently has a consensus rating of “Hold” and a consensus target price of $16.19.
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.
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