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 stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $11.85, for a total value of $296,250.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Mercer International Inc. (NASDAQ MERC) traded down 1.26% during mid-day trading on Wednesday, reaching $11.80. The company’s stock had a trading volume of 202,598 shares. The stock has a 50 day moving average of $11.09 and a 200-day moving average of $11.42. The stock has a market cap of $766.68 million, a P/E ratio of 20.10 and a beta of 1.49. Mercer International Inc. has a one year low of $7.60 and a one year high of $12.98.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 27th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, September 26th. This represents a $0.46 annualized dividend and a dividend yield of 3.90%. Mercer International’s dividend payout ratio (DPR) is 79.31%.
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Several brokerages have issued reports on MERC. BidaskClub cut Mercer International from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. TD Securities increased their target price on 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 issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $14.94.
Large investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC grew its stake in shares of Mercer International by 17.8% in the first quarter. Parametric Portfolio Associates LLC now owns 17,824 shares of the basic materials company’s stock worth $209,000 after acquiring an additional 2,689 shares in the last quarter. Renaissance Group LLC grew its stake in shares of Mercer International by 9.7% in the second 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 in the last quarter. Nationwide Fund Advisors grew its stake in shares of Mercer International by 16.5% in the second quarter. Nationwide Fund Advisors now owns 216,961 shares of the basic materials company’s stock worth $2,495,000 after acquiring an additional 30,661 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Mercer International by 11.0% in the second quarter. Bank of New York Mellon Corp now owns 240,556 shares of the basic materials company’s stock worth $2,767,000 after acquiring an additional 23,872 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Mercer International by 13.4% in the first quarter. Russell Investments Group Ltd. now owns 257,591 shares of the basic materials company’s stock worth $3,013,000 after acquiring an additional 30,536 shares in the last quarter. Institutional investors and hedge funds own 80.15% of the company’s stock.
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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