Geode Capital Management LLC Purchases 8,957 Shares of Mercer International Inc. (NASDAQ:MERC)

Geode Capital Management LLC increased its position in Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 525,532 shares of the basic materials company’s stock after acquiring an additional 8,957 shares during the period. Geode Capital Management LLC’s holdings in Mercer International were worth $3,559,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MERC. Entropy Technologies LP purchased a new position in Mercer International in the third quarter worth about $75,000. Quantbot Technologies LP increased its position in shares of Mercer International by 505.8% during the 3rd quarter. Quantbot Technologies LP now owns 49,483 shares of the basic materials company’s stock valued at $335,000 after purchasing an additional 41,315 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Mercer International by 22.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 36,661 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 6,786 shares during the period. Hedge funds and other institutional investors own 85.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $7.00 target price on shares of Mercer International in a research report on Monday, November 4th. StockNews.com raised shares of Mercer International from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.13.

Mercer International Trading Up 0.3 %

Mercer International stock opened at $6.57 on Tuesday. Mercer International Inc. has a 12-month low of $5.33 and a 12-month high of $11.20. The firm has a market capitalization of $439.34 million, a price-to-earnings ratio of -2.32 and a beta of 1.29. The firm has a 50 day moving average of $6.43 and a 200 day moving average of $6.81. The company has a current ratio of 3.79, a quick ratio of 2.39 and a debt-to-equity ratio of 3.09.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $502.14 million during the quarter, compared to analysts’ expectations of $485.84 million. During the same period in the prior year, the company posted ($0.39) earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, research analysts predict that Mercer International Inc. will post -1.62 earnings per share for the current year.

Mercer International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Wednesday, December 18th were given a $0.075 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $0.30 annualized dividend and a dividend yield of 4.57%. Mercer International’s payout ratio is -10.60%.

Mercer International Profile

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.