Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter R. Kellogg bought 10,514 shares of the stock in a transaction dated Monday, December 18th. The shares were acquired at an average price of $13.08 per share, for a total transaction of $137,523.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Mercer International Inc. (NASDAQ MERC) traded up $0.38 during trading on Friday, reaching $14.75. The company had a trading volume of 124,842 shares, compared to its average volume of 192,807. 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 cap of $959.00, a PE ratio of 20.49 and a beta of 1.48. Mercer International Inc. has a fifty-two week low of $10.45 and a fifty-two week high of $15.00.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Wednesday, December 27th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Tuesday, December 26th. This is a positive change from Mercer International’s previous quarterly dividend of $0.12. Mercer International’s payout ratio is presently 69.44%.
MERC has been the topic of a number of recent analyst reports. BidaskClub cut Mercer International from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. Royal Bank of Canada boosted their price objective on Mercer International from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Monday, October 30th. Credit Suisse Group cut Mercer International from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 26th. Finally, CSFB cut Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Mercer International currently has a consensus rating of “Hold” and an average price target of $16.19.
A number of hedge funds have recently bought and sold shares of the business. Renaissance Group LLC grew its holdings in Mercer International by 10.5% during the 3rd 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. Walthausen & Co. LLC grew its holdings in Mercer International by 8.1% during the 2nd quarter. Walthausen & Co. LLC now owns 1,051,619 shares of the basic materials company’s stock valued at $12,094,000 after buying an additional 79,242 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in Mercer International by 9.3% during the 2nd 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. Nationwide Fund Advisors grew its holdings 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 valued at $2,495,000 after buying an additional 30,661 shares in the last quarter. Finally, Kennedy Capital Management Inc. grew its holdings in Mercer International by 14.1% during the 2nd 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. 79.00% of the stock is 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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