Insider Buying: Mercer International Inc. (MERC) Major Shareholder Purchases 17,243 Shares of Stock
Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter R. Kellogg purchased 17,243 shares of the stock in a transaction on Friday, December 8th. The stock was acquired at an average cost of $13.46 per share, for a total transaction of $232,090.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Mercer International Inc. (MERC) traded down $0.13 on Monday, hitting $13.35. 94,500 shares of the stock traded hands, compared to its average volume of 201,538. The company has a current ratio of 3.58, a quick ratio of 2.44 and a debt-to-equity ratio of 1.40. Mercer International Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $15.00. The company has a market cap of $867.98, a price-to-earnings ratio of 15.17 and a beta of 1.48.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Wednesday, December 27th will be issued a $0.125 dividend. This is a positive change from Mercer International’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.50 annualized dividend and a dividend yield of 3.75%. Mercer International’s dividend payout ratio is presently 63.89%.
MERC has been the topic of several analyst reports. CSFB lowered shares of Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a report on Friday, October 27th. BidaskClub lowered shares of Mercer International from a “hold” rating to a “sell” rating in a report on Wednesday, December 6th. Royal Bank Of Canada boosted their price target on shares of Mercer International from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Monday, October 30th. Finally, Credit Suisse Group lowered shares of Mercer International from an “outperform” rating to a “neutral” rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $16.19.
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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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