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Mercer International (NASDAQ:MERC) major shareholder Peter R. Kellogg acquired 31,000 shares of the stock on the open market in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average cost of $9.94 per share, for a total transaction of $308,140.00. Following the completion of the acquisition, the insider now directly owns 2,126,131 shares of the company’s stock, valued at approximately $21,133,742. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International (NASDAQ:MERC) traded up 0.40% during mid-day trading on Monday, hitting $10.09. 150,891 shares of the company’s stock traded hands. Mercer International has a 1-year low of $6.62 and a 1-year high of $11.41. The stock has a 50-day moving average of $10.20 and a 200-day moving average of $9.14. The company’s market cap is $562.4 million.

Mercer International (NASDAQ:MERC) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.11 by $0.10. On average, analysts predict that Mercer International will post $0.64 earnings per share for the current fiscal year.

Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Mercer International from an “outperform” rating to a “neutral” rating in a research note on Friday, July 18th. They now have a $12.00 price target on the stock. Separately, analysts at TD Securities downgraded shares of Mercer International from a “hold” rating to a “reduce” rating in a research note on Monday, July 14th. They now have a $9.50 price target on the stock, up previously from $9.00. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $10.00.

Mercer International Inc (NASDAQ:MERC) operates in the pulp business and is the producer of market northern bleached softwood kraft (NBSK) pulp.

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