Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) CEO David M. Gandossi sold 12,000 shares of the stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $14.26, for a total transaction of $171,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Mercer International Inc. (MERC) opened at $14.75 on Friday. 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 $10.45 and a fifty-two week high of $15.00. The stock has a market cap of $959.00, a P/E ratio of 20.49 and a beta of 1.48.
The business also recently disclosed 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 is a positive change from Mercer International’s previous quarterly dividend of $0.12. This represents a $0.50 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Tuesday, December 26th. Mercer International’s dividend payout ratio (DPR) is 69.44%.
Institutional investors and hedge funds have recently made changes to their positions in the business. 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. Renaissance Group LLC grew its holdings in Mercer International by 9.7% during the 2nd quarter. Renaissance Group LLC now owns 39,013 shares of the basic materials company’s stock valued at $449,000 after buying an additional 3,434 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. Bank of New York Mellon Corp grew its holdings in Mercer International by 11.0% during the 2nd 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. 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.
Several equities research analysts recently issued reports on MERC shares. CSFB lowered shares of Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 target price for the company. 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 increased their target price on shares of Mercer International from $15.00 to $16.00 and gave the stock 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. 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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