Mercer International Inc. (MERC) Major Shareholder Peter R. Kellogg Acquires 76,700 Shares
Mercer International Inc. (NASDAQ:MERC) major shareholder Peter R. Kellogg purchased 76,700 shares of the business’s stock in a transaction that occurred on Wednesday, October 12th. The stock was acquired at an average price of $8.26 per share, for a total transaction of $633,542.00. Following the purchase, the insider now owns 2,649,109 shares of the company’s stock, valued at approximately $21,881,640.34. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Mercer International Inc. (NASDAQ:MERC) opened at 7.98 on Friday. The firm has a market capitalization of $515.95 million, a P/E ratio of 10.30 and a beta of 1.29. The company’s 50-day moving average price is $8.42 and its 200-day moving average price is $8.58. Mercer International Inc. has a 52-week low of $5.95 and a 52-week high of $11.68.
Mercer International (NASDAQ:MERC) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.05 by $0.12. Mercer International had a net margin of 5.10% and a return on equity of 12.44%. On average, equities research analysts expect that Mercer International Inc. will post $0.54 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Monday, September 26th were given a $0.115 dividend. The ex-dividend date of this dividend was Thursday, September 22nd. This represents a $0.46 annualized dividend and a yield of 5.76%. Mercer International’s dividend payout ratio is currently 59.74%.
A number of large investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC boosted its stake in shares of Mercer International by 3.9% in the second quarter. Parametric Portfolio Associates LLC now owns 20,971 shares of the company’s stock valued at $167,000 after buying an additional 789 shares during the period. Acrospire Investment Management LLC boosted its stake in shares of Mercer International by 10.3% in the second quarter. Acrospire Investment Management LLC now owns 12,900 shares of the company’s stock valued at $103,000 after buying an additional 1,200 shares during the period. Toronto Dominion Bank boosted its stake in shares of Mercer International by 6.1% in the second quarter. Toronto Dominion Bank now owns 139,503 shares of the company’s stock valued at $1,113,000 after buying an additional 7,959 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Mercer International by 36.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 49,201 shares of the company’s stock valued at $393,000 after buying an additional 13,073 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Mercer International by 546.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 15,643 shares of the company’s stock valued at $125,000 after buying an additional 13,225 shares during the period. 57.79% of the stock is currently owned by institutional investors and hedge funds.
MERC has been the topic of several recent analyst reports. Zacks Investment Research upgraded Mercer International from a “sell” rating to a “hold” rating in a research note on Thursday, September 29th. TheStreet cut Mercer International from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $12.13.
Mercer International Company Profile
Mercer International Inc is engaged in producing (northern bleached softwood kraft) NBSK pulp. The Company operates in the pulp industry and produces pulp for resale, known as market pulp, in Germany. It also produces and sells tall oil, which is used as both a chemical additive and as a green energy source.
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