Mercer International Inc. (MERC) Major Shareholder Peter R. Kellogg Buys 15,757 Shares
Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter R. Kellogg acquired 15,757 shares of the stock in a transaction dated Tuesday, July 18th. The stock was acquired at an average price of $11.70 per share, for a total transaction of $184,356.90. Following the completion of the acquisition, the insider now directly owns 150,000 shares of the company’s stock, valued at $1,755,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Mercer International Inc. (NASDAQ:MERC) traded up 0.84% during trading on Wednesday, hitting $12.05. 126,885 shares of the company traded hands. The firm has a market capitalization of $782.47 million, a P/E ratio of 21.91 and a beta of 1.58. The stock has a 50-day moving average price of $11.58 and a 200-day moving average price of $11.66. Mercer International Inc. has a 12-month low of $7.03 and a 12-month high of $12.98.
Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its quarterly earnings results on Thursday, April 27th. The basic materials company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.34 by $0.03. The firm had revenue of $242.78 million for the quarter. Mercer International had a return on equity of 11.69% and a net margin of 3.90%. Equities analysts expect that Mercer International Inc. will post $0.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Tuesday, June 27th were paid a $0.115 dividend. The ex-dividend date was Friday, June 23rd. This represents a $0.46 annualized dividend and a yield of 3.82%. Mercer International’s dividend payout ratio is currently 85.19%.
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A number of analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $12.00 price objective on shares of Mercer International in a report on Tuesday, May 23rd. Raymond James Financial, Inc. reissued an “outperform” rating and issued a $18.00 target price on shares of Mercer International in a research note on Friday, April 28th. TD Securities reissued a “hold” rating and issued a $18.00 target price on shares of Mercer International in a research note on Monday, May 1st. Finally, Zacks Investment Research cut shares of Mercer International from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.50.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kennedy Capital Management Inc. increased its stake in shares of Mercer International by 274.0% in the first quarter. Kennedy Capital Management Inc. now owns 338,684 shares of the basic materials company’s stock worth $3,963,000 after buying an additional 248,130 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Mercer International during the fourth quarter worth approximately $2,384,000. Nationwide Fund Advisors boosted its position in shares of Mercer International by 1,193.8% in the first quarter. Nationwide Fund Advisors now owns 186,300 shares of the basic materials company’s stock worth $2,180,000 after buying an additional 171,900 shares during the period. Acrospire Investment Management LLC boosted its position in shares of Mercer International by 2,667.4% in the first quarter. Acrospire Investment Management LLC now owns 14,667 shares of the basic materials company’s stock worth $172,000 after buying an additional 14,137 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Mercer International by 3.0% in the first quarter. Geode Capital Management LLC now owns 283,990 shares of the basic materials company’s stock worth $3,322,000 after buying an additional 8,231 shares during the period. Institutional investors and hedge funds own 81.21% of the company’s stock.
About Mercer International
Mercer International Inc is a producer of northern bleached softwood kraft (NBSK) pulp, which is pulp that is sold on the open market. The Company also produces and sells tall oil, a by-product of its production process, which is used as both a chemical additive and as a green energy source. It produces and sells NBSK pulp, which is a bleached kraft pulp manufactured using northern softwood.
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