Mercer International Inc. (NASDAQ:MERC) Short Interest Up 28.4% in May
an increase of 30.2% from the May 15th total of 1,530,000 shares. Based on an average daily volume of 492,400 shares, the short-interest ratio is presently 4.0 days. The stock of Mercer International Inc. saw a significant increase in short interest in the month of May.
The short interest for (TSE : MRI.U) increased significantly in May. On May 31, there were 1,990,000 shorted shares. This is a 28.4% increase from the 1,550,000 shares on May 15. Presently, 5.2% are short-sold. The short-interest rate is currently 4.2 days based on a daily average of 477.200 shares.
Mercer International stock up 1.3 %
Trading on Friday saw a $0.12 increase, bringing the price to $9.17. The company's average trading volume is 551,051. The fifty-day moving average of the business is $9.24, and its 200-day moving average is $10.68. Mercer International's 52-week low is $8.38, and its 52-week high is $17.50. The company has a $609.16 million market capitalization, a P/E ratio of 4,80 and a Beta of 1.48. The last time the TSE:MRI.U announced its quarterly results was on Thursday, 4th May. The basic materials company posted ($0.46) in earnings per share during the first quarter. This was below the consensus estimate ($0.36) by $0.82. Mercer International reported a net profit margin of 5.77%, and a return of equity of 16.28%. Analysts had predicted $512.70 millions for the company's revenue. The actual number was $522.67. In the same quarter of the previous year, the company had $1.34 in earnings per share. Mercer International reported a revenue decline of 11.8% from the previous year for the third quarter. Analysts at Equities Research predict that Mercer International's earnings per share will be -0.4 for the current fiscal.
Mercer International Dividend announcement
Recently, the business announced a quarterly distribution that will be paid out on Thursday, 7th July. Dividends of $0.075 will be paid to shareholders who held shares on the record date of Wednesday, June 28th. The ex-dividend day is Tuesday, 27th June. This is a $0.30 dividend with a yield of 3.27 percent. Mercer International has a dividend payout ratio of 15.71 %.
Hedge Funds weigh in on Mercer International
Recently, institutional investors have made changes to the positions they hold in the stock. Quent Capital LLC purchased a new stake of shares in Mercer International worth approximately $215,000. Lansing Street Advisors purchased a stake in Mercer International worth approximately $34,000 during the third-quarter. Mutual of America Capital Management LLC grew its stake in Mercer International shares by 18.5% over the third quarter. Mutual of America Capital Management LLC owns 8,030 of the basic materials stock, worth $99,000. This is after adding 1,255 additional shares during the third quarter. Teachers Retirement System of The State of Kentucky purchased a new stake of shares of Mercer International in the third quarter, worth approximately $173,000. Quantbot Technologies LP purchased a new stake of shares in Mercer International worth approximately $155,000 during the first three months. Institutional investors and Hedge Funds own 78.22% the stock of Mercer International.
Analysts set new price targets
MERC was the subject of a few recent research reports. Credit Suisse Group reduced their price target for shares of Mercer International in a report published on Wednesday, April 19, from $15.50 down to $10.50. They also set a neutral' rating. In a report published on Thursday, 18th May, Mercer International shares were covered. The stock was given a rating of'sell'. TD Securities lowered their target price for shares of Mercer International to $10 from $11.00 in a Monday, 8th May report. They also set a hold' rating. TheStreet lowered the rating of Mercer International shares from a b- to a c in a report published on Monday, 8th May. Four analysts have given the stock a hold recommendation, while one analyst has assigned a buy recommendation. According to data from MarketBeat.com Mercer International currently has a consensus of 'Hold,' with a consensus target price of $13.90.
About Mercer International
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Mercer International Inc., along with its subsidiaries manufactures and markets northern bleached Softwood Kraft (NBSK), pulp in Europe, Asia and worldwide. The company is divided into two segments: Pulp and wood products. The company also sells green electricity produced by biomass cogeneration power plants to third-party utilities.
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