Insider Selling: Mercer International Inc. (MERC) Insider Sells 25,000 Shares of Stock
Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) insider Jimmy S. H. Lee sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $10.94, for a total value of $273,500.00. Following the completion of the transaction, the insider now owns 2,211,345 shares of the company’s stock, valued at approximately $24,192,114.30. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of Mercer International Inc. (MERC) traded up 0.46% during trading on Thursday, hitting $10.95. The stock had a trading volume of 55,101 shares. The firm has a 50-day moving average of $11.20 and a 200 day moving average of $11.51. The company has a market capitalization of $711.45 million, a P/E ratio of 18.65 and a beta of 1.54. Mercer International Inc. has a 1-year low of $7.60 and a 1-year high of $12.98.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 27th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, September 26th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.20%. Mercer International’s dividend payout ratio is presently 79.31%.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Group LLC raised its holdings in shares of Mercer International by 9.7% in the 2nd quarter. Renaissance Group LLC now owns 39,013 shares of the basic materials company’s stock worth $449,000 after acquiring an additional 3,434 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Mercer International by 1.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 42,870 shares of the basic materials company’s stock worth $502,000 after acquiring an additional 468 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Mercer International by 22.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 314,654 shares of the basic materials company’s stock worth $3,618,000 after acquiring an additional 57,063 shares during the last quarter. Kennedy Capital Management Inc. raised its holdings in shares of Mercer International by 274.0% in the 1st quarter. Kennedy Capital Management Inc. now owns 338,684 shares of the basic materials company’s stock worth $3,963,000 after acquiring an additional 248,130 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Mercer International by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 283,990 shares of the basic materials company’s stock worth $3,322,000 after acquiring an additional 8,231 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.
Several equities analysts have recently weighed in on MERC shares. Zacks Investment Research cut Mercer International from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. TD Securities raised their price objective on Mercer International from $13.00 to $15.75 and gave the company a “hold” rating in a report on Monday, July 31st. BidaskClub upgraded Mercer International from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $12.00 price objective on shares of Mercer International in a report on Tuesday, May 23rd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Mercer International currently has a consensus rating of “Hold” and an average price target of $14.94.
Mercer International Company Profile
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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