Iat Reinsurance Co. LTD. raised its stake in Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) by 0.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,467,500 shares of the basic materials company’s stock after buying an additional 11,177 shares during the quarter. Mercer International makes up approximately 30.1% of Iat Reinsurance Co. LTD.’s investment portfolio, making the stock its largest position. Iat Reinsurance Co. LTD. owned about 25.33% of Mercer International worth $195,140,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of the business. Parametric Portfolio Associates LLC lifted its stake in shares of Mercer International by 17.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 17,824 shares of the basic materials company’s stock valued at $209,000 after purchasing an additional 2,689 shares during the last quarter. Renaissance Group LLC lifted its stake in shares of Mercer International by 9.7% in the 2nd quarter. Renaissance Group LLC now owns 39,013 shares of the basic materials company’s stock valued at $449,000 after purchasing an additional 3,434 shares during the last quarter. Nationwide Fund Advisors lifted its stake in shares of Mercer International by 16.5% in the 2nd quarter. Nationwide Fund Advisors now owns 216,961 shares of the basic materials company’s stock valued at $2,495,000 after purchasing an additional 30,661 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Mercer International by 11.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 240,556 shares of the basic materials company’s stock valued at $2,767,000 after purchasing an additional 23,872 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Mercer International by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 283,990 shares of the basic materials company’s stock valued at $3,322,000 after purchasing an additional 8,231 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.
Mercer International Inc. (NASDAQ:MERC) traded down $0.15 on Tuesday, reaching $14.15. The company had a trading volume of 149,900 shares, compared to its average volume of 205,829. Mercer International Inc. has a 1 year low of $8.50 and a 1 year high of $15.00. The company has a current ratio of 3.58, a quick ratio of 2.44 and a debt-to-equity ratio of 1.40. The firm has a market cap of $929.75, a price-to-earnings ratio of 16.25 and a beta of 1.52.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Wednesday, December 27th will be paid a dividend of $0.125 per share. This is a positive change from Mercer International’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, December 26th. This represents a $0.50 annualized dividend and a yield of 3.53%. Mercer International’s dividend payout ratio is presently 63.89%.
Several brokerages have recently commented on MERC. Royal Bank Of Canada upped their price target on Mercer International from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Monday, October 30th. CSFB lowered Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research note on Friday, October 27th. Credit Suisse Group lowered Mercer International from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 26th. BidaskClub raised Mercer International from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Finally, TD Securities upped their price target on Mercer International from $13.00 to $15.75 and gave the company a “hold” rating in a research note on Monday, July 31st. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $16.19.
In related news, insider Jimmy S. H. Lee sold 25,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $14.43, for a total transaction of $360,750.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eric Lauritzen sold 5,000 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $10.96, for a total value of $54,800.00. Following the transaction, the director now directly owns 64,085 shares in the company, valued at approximately $702,371.60. The disclosure for this sale can be found here. In the last three months, insiders have purchased 2,858,743 shares of company stock worth $35,311,751 and have sold 263,500 shares worth $3,294,335. 4.90% of the stock is currently owned by corporate insiders.
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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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