Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter R. Kellogg acquired 10,000 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were bought at an average cost of $14.25 per share, for a total transaction of $142,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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) opened at $14.15 on Wednesday. The company has a market capitalization of $919.99, a P/E ratio of 19.65 and a beta of 1.48. The company has a quick ratio of 2.44, a current ratio of 3.58 and a debt-to-equity ratio of 1.40. Mercer International Inc. has a 1-year low of $10.35 and a 1-year high of $15.00.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Wednesday, December 27th were issued a $0.125 dividend. This is an increase from Mercer International’s previous quarterly dividend of $0.12. This represents a $0.50 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Tuesday, December 26th. Mercer International’s payout ratio is presently 69.44%.
MERC has been the topic of several recent analyst reports. CSFB downgraded Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a report on Friday, October 27th. Royal Bank of Canada raised Mercer International from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $12.00 to $15.00 in a report on Wednesday, October 18th. Credit Suisse Group downgraded Mercer International from an “outperform” rating to a “neutral” rating in a report on Thursday, October 26th. Finally, BidaskClub raised Mercer International from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $16.19.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Group LLC boosted its holdings in shares of Mercer International by 10.5% in the 3rd quarter. Renaissance Group LLC now owns 43,100 shares of the basic materials company’s stock worth $511,000 after acquiring an additional 4,087 shares in the last quarter. Walthausen & Co. LLC boosted its holdings in shares of Mercer International by 8.1% in the 2nd quarter. Walthausen & Co. LLC now owns 1,051,619 shares of the basic materials company’s stock worth $12,094,000 after acquiring an additional 79,242 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Mercer International by 9.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,478 shares of the basic materials company’s stock worth $224,000 after acquiring an additional 1,654 shares in the last quarter. Nationwide Fund Advisors boosted its holdings in shares of Mercer International by 16.5% in 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. Finally, Kennedy Capital Management Inc. boosted its holdings in shares of Mercer International by 14.1% in the 2nd quarter. Kennedy Capital Management Inc. now owns 386,307 shares of the basic materials company’s stock worth $4,443,000 after acquiring an additional 47,623 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.
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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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