Mercer International Inc. (MERC) Major Shareholder Peter R. Kellogg Acquires 2,658,743 Shares
Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter R. Kellogg acquired 2,658,743 shares of Mercer International stock in a transaction dated Tuesday, October 10th. The stock was purchased at an average price of $12.41 per share, for a total transaction of $32,995,000.63. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Mercer International Inc. (NASDAQ MERC) traded down 0.78% on Wednesday, hitting $12.80. 275,330 shares of the company were exchanged. Mercer International Inc. has a 52-week low of $7.60 and a 52-week high of $13.00. The stock has a market cap of $832.22 million, a PE ratio of 21.69 and a beta of 1.49. The firm has a 50 day moving average of $11.25 and a 200-day moving average of $11.44.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 27th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, September 26th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.59%. Mercer International’s payout ratio is currently 79.31%.
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A number of equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of Mercer International from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. TD Securities raised their price objective on shares of Mercer International from $13.00 to $15.75 and gave the company a “hold” rating in a report on Monday, July 31st. Four 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 an average price target of $15.25.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its holdings in 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 valued at $209,000 after acquiring an additional 2,689 shares in the last quarter. Renaissance Group LLC raised its holdings in Mercer International by 9.7% in the second quarter. Renaissance Group LLC now owns 39,013 shares of the basic materials company’s stock valued at $449,000 after acquiring an additional 3,434 shares in the last quarter. Nationwide Fund Advisors raised its holdings in Mercer International by 16.5% in the second quarter. Nationwide Fund Advisors now owns 216,961 shares of the basic materials company’s stock valued at $2,495,000 after acquiring an additional 30,661 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in 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 valued at $2,767,000 after acquiring an additional 23,872 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in 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 valued at $3,322,000 after acquiring an additional 8,231 shares in the last quarter. 80.15% of the stock is currently owned by hedge funds and other institutional investors.
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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