Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter R. Kellogg bought 20,000 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were acquired at an average price of $13.98 per share, for a total transaction of $279,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Mercer International Inc. (NASDAQ:MERC) opened at $14.75 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.58 and a quick ratio of 2.44. Mercer International Inc. has a 1 year low of $10.45 and a 1 year high of $15.00. The firm has a market cap of $959.00, a PE ratio of 16.76 and a beta of 1.49.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Wednesday, December 27th were given a $0.125 dividend. 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 is 69.44%.
Several brokerages have recently issued reports on MERC. BidaskClub cut shares of Mercer International from a “hold” rating to a “sell” rating in a research report on Wednesday. Royal Bank of Canada upped their target price on shares of Mercer International from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Monday, October 30th. CSFB lowered shares of Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research report on Friday, October 27th. Finally, Credit Suisse Group lowered shares of Mercer International from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.19.
A number of institutional investors have recently bought and sold shares of MERC. Parametric Portfolio Associates LLC raised its position in 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 purchasing an additional 1,654 shares during the period. Renaissance Group LLC raised its position in Mercer International by 9.7% in the 2nd quarter. Renaissance Group LLC now owns 39,013 shares of the basic materials company’s stock worth $449,000 after purchasing an additional 3,434 shares during the period. Nationwide Fund Advisors raised its position in 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 purchasing an additional 30,661 shares during the period. Bank of New York Mellon Corp grew its stake in Mercer International by 11.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 240,556 shares of the basic materials company’s stock worth $2,767,000 after acquiring an additional 23,872 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Mercer International by 22.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 314,654 shares of the basic materials company’s stock worth $3,618,000 after acquiring an additional 57,063 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors.
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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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