Mercer International Inc. (NASDAQ:MERC) Short Interest Update

Mercer International Inc. (NASDAQ:MERC - Get Free Report) TSE: MRI.U was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 1,410,000 shares, an increase of 45.6% from the April 30th total of 968,400 shares. Based on an average daily volume of 528,300 shares, the days-to-cover ratio is presently 2.7 days. Currently, 3.7% of the company's stock are short sold.

Mercer International Price Performance

MERC stock remained flat at $3.65 during trading on Thursday. The company had a trading volume of 463,656 shares, compared to its average volume of 436,339. The stock's 50-day moving average is $4.36 and its 200-day moving average is $5.83. The company has a current ratio of 3.79, a quick ratio of 2.39 and a debt-to-equity ratio of 3.09. The firm has a market capitalization of $244.08 million, a P/E ratio of -2.87 and a beta of 1.08. Mercer International has a 52 week low of $3.20 and a 52 week high of $9.43.

Mercer International (NASDAQ:MERC - Get Free Report) TSE: MRI.U last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported ($0.33) earnings per share (EPS) for the quarter. Mercer International had a negative return on equity of 5.18% and a negative net margin of 4.17%. The firm had revenue of $506.97 million during the quarter, compared to analyst estimates of $508.42 million. Research analysts expect that Mercer International will post -0.29 earnings per share for the current year.

Mercer International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Thursday, June 26th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $0.30 annualized dividend and a dividend yield of 8.22%. Mercer International's dividend payout ratio is presently -22.22%.

Insider Transactions at Mercer International

In other news, VP Wolfgang Beck acquired 8,791 shares of Mercer International stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average cost of $3.60 per share, for a total transaction of $31,647.60. Following the transaction, the vice president now owns 35,054 shares of the company's stock, valued at $126,194.40. This trade represents a 33.47% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Carsten Merforth purchased 7,000 shares of Mercer International stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average price of $3.62 per share, for a total transaction of $25,340.00. Following the completion of the transaction, the chief operating officer now owns 22,651 shares in the company, valued at $81,996.62. The trade was a 44.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 16,791 shares of company stock valued at $60,628 over the last ninety days. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mercer International

Large investors have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS purchased a new stake in shares of Mercer International during the fourth quarter worth approximately $58,000. Entropy Technologies LP increased its position in shares of Mercer International by 56.0% during the fourth quarter. Entropy Technologies LP now owns 17,270 shares of the basic materials company's stock worth $112,000 after acquiring an additional 6,200 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in shares of Mercer International by 943.3% during the first quarter. Quantbot Technologies LP now owns 20,470 shares of the basic materials company's stock worth $126,000 after acquiring an additional 18,508 shares during the last quarter. Hedge funds and other institutional investors own 85.79% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on MERC shares. CIBC reduced their price objective on Mercer International from $6.00 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Royal Bank of Canada reduced their price objective on Mercer International from $7.00 to $5.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 22nd. TD Securities reduced their price objective on Mercer International from $5.50 to $4.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Finally, Raymond James cut their price target on Mercer International from $7.00 to $5.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $4.75.

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.