Mercer International Inc. (MERC) Insider Jimmy S. H. Lee Sells 25,000 Shares
Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) insider Jimmy S. H. Lee sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $11.09, for a total transaction of $277,250.00. Following the completion of the sale, the insider now owns 2,175,537 shares in the company, valued at $24,126,705.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Mercer International Inc. (MERC) traded down 0.90% during mid-day trading on Wednesday, reaching $11.00. 118,121 shares of the company were exchanged. Mercer International Inc. has a 12 month low of $7.60 and a 12 month high of $12.98. The firm has a market capitalization of $714.70 million, a PE ratio of 18.74 and a beta of 1.54. The company’s 50 day moving average price is $11.08 and its 200 day moving average price is $11.47.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 27th will be issued a dividend of $0.115 per share. 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 4.14%. Mercer International’s dividend payout ratio is currently 79.31%.
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Several hedge funds have recently added to or reduced their stakes in MERC. Kennedy Capital Management Inc. raised its holdings in shares of Mercer International by 274.0% during the first quarter. Kennedy Capital Management Inc. now owns 338,684 shares of the basic materials company’s stock valued at $3,963,000 after acquiring an additional 248,130 shares during the period. Nationwide Fund Advisors raised its holdings in shares of Mercer International by 1,193.8% during the first quarter. Nationwide Fund Advisors now owns 186,300 shares of the basic materials company’s stock valued at $2,180,000 after acquiring an additional 171,900 shares during the period. Walthausen & Co. LLC raised its holdings in shares of Mercer International by 8.1% during the second quarter. Walthausen & Co. LLC now owns 1,051,619 shares of the basic materials company’s stock valued at $12,094,000 after acquiring an additional 79,242 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Mercer International by 22.2% during the second quarter. Russell Investments Group Ltd. now owns 314,654 shares of the basic materials company’s stock valued at $3,618,000 after acquiring an additional 57,063 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Mercer International by 11.0% during the second quarter. Bank of New York Mellon Corp now owns 240,556 shares of the basic materials company’s stock valued at $2,767,000 after acquiring an additional 23,872 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.
Several analysts have recently commented on the stock. BidaskClub upgraded shares of Mercer International from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research lowered shares of Mercer International from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. Royal Bank Of Canada reiterated a “hold” rating and issued a $12.00 price target on shares of Mercer International in a research report on Tuesday, May 23rd. Finally, TD Securities increased their price target on shares of Mercer International from $13.00 to $15.75 and gave the company a “hold” rating in a research report on Monday, July 31st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus 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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