Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) CEO David M. Gandossi sold 12,000 shares of Mercer International stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $14.31, for a total value of $171,720.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Mercer International Inc. (NASDAQ:MERC) traded down $0.05 during trading hours on Thursday, hitting $14.10. The stock had a trading volume of 126,900 shares, compared to its average volume of 175,071. Mercer International Inc. has a 12 month low of $10.45 and a 12 month high of $15.00. The company has a market capitalization of $933.00, a PE ratio of 19.58 and a beta of 1.48. The company has a current ratio of 3.58, a quick ratio of 2.44 and a debt-to-equity ratio of 1.40.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Wednesday, December 27th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.55%. This is an increase from Mercer International’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, December 26th. Mercer International’s payout ratio is presently 69.44%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its position in shares of Mercer International by 9.3% in the second quarter. Parametric Portfolio Associates LLC now owns 19,478 shares of the basic materials company’s stock valued at $224,000 after buying an additional 1,654 shares in the last quarter. Renaissance Group LLC raised its position in shares of Mercer International by 10.5% in the third quarter. Renaissance Group LLC now owns 43,100 shares of the basic materials company’s stock valued at $511,000 after buying an additional 4,087 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of 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 buying an additional 30,661 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of 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 buying an additional 23,872 shares in the last quarter. Finally, Kennedy Capital Management Inc. raised its position in shares of Mercer International by 14.1% in the second quarter. Kennedy Capital Management Inc. now owns 386,307 shares of the basic materials company’s stock valued at $4,443,000 after buying an additional 47,623 shares in the last quarter. Institutional investors own 79.00% of the company’s stock.
A number of research firms recently commented on MERC. BidaskClub cut Mercer International from a “hold” rating to a “sell” rating in a report on Wednesday. Royal Bank of Canada upgraded Mercer International from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $12.00 to $15.00 in a report on Wednesday, October 18th. CSFB cut Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a report on Friday, October 27th. Finally, Credit Suisse Group cut Mercer International from an “outperform” rating to a “neutral” rating in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company currently has an average 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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