Mercer International Inc. (MERC) Insider Sells $360,750.00 in Stock
Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) insider Jimmy S. H. Lee sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $14.43, for a total value of $360,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Wednesday, December 27th will be paid a dividend of $0.125 per share. This is a positive change from Mercer International’s previous quarterly dividend of $0.12. This represents a $0.50 annualized dividend and a yield of 3.40%. The ex-dividend date is Tuesday, December 26th. Mercer International’s dividend payout ratio (DPR) is currently 63.89%.
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Large investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC raised its stake in Mercer International by 17.8% during the 1st 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 raised its stake in Mercer International by 9.7% during 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 in the last quarter. Nationwide Fund Advisors raised its stake in Mercer International by 16.5% during the 2nd 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 raised its stake in Mercer International by 11.0% during the 2nd 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, Geode Capital Management LLC raised its stake in Mercer International by 3.0% during 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 in the last quarter. Hedge funds and other institutional investors own 79.84% of the company’s stock.
Several research firms recently issued reports on MERC. Royal Bank Of Canada upped their target price on Mercer International from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Monday. CSFB downgraded Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research report on Friday, October 27th. Credit Suisse Group downgraded Mercer International from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 26th. BidaskClub raised Mercer International from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Finally, TD Securities upped 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Mercer International has a consensus rating of “Hold” and an average target price of $16.19.
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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