David M. Gandossi Sells 12,000 Shares of Mercer International Inc. (MERC) Stock
Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) CEO David M. Gandossi sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $14.31, for a total transaction of $171,720.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Mercer International Inc. (MERC) traded up $0.05 during trading hours on Wednesday, hitting $14.35. 186,952 shares of the stock were exchanged, compared to its average volume of 328,600. Mercer International Inc. has a 52 week low of $10.35 and a 52 week high of $15.00. The company has a quick ratio of 2.44, a current ratio of 3.58 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $929.75, a PE ratio of 19.93 and a beta of 1.49.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Wednesday, December 27th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, December 26th. This is a boost from Mercer International’s previous quarterly dividend of $0.12. Mercer International’s payout ratio is 69.44%.
A number of brokerages have commented on MERC. CSFB cut shares of Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a research note on Friday, October 27th. Royal Bank of Canada upgraded shares of Mercer International from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $12.00 to $15.00 in a research note on Wednesday, October 18th. Credit Suisse Group cut shares of Mercer International from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 26th. Finally, BidaskClub upgraded shares of Mercer International from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Mercer International presently has an average rating of “Hold” and a consensus price target of $16.19.
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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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