Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter R. Kellogg acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was bought at an average price of $14.25 per share, with a total value of $142,500.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of Mercer International Inc. (NASDAQ:MERC) traded down $0.50 during trading on Thursday, hitting $14.20. 179,173 shares of the company’s stock traded hands, compared to its average volume of 149,335. The company has a market cap of $927.69, a PE ratio of 19.82 and a beta of 1.48. Mercer International Inc. has a 52 week low of $10.45 and a 52 week high of $15.00. The company has a quick ratio of 2.44, a current ratio of 3.58 and a debt-to-equity ratio of 1.40.
Several institutional investors have recently modified their holdings of MERC. Parametric Portfolio Associates LLC raised its position in shares of 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 acquiring an additional 1,654 shares during the last quarter. Renaissance Group LLC grew 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 valued at $511,000 after buying an additional 4,087 shares during the period. James Investment Research Inc. acquired a new position in shares of Mercer International in the 4th quarter valued at $1,991,000. Nationwide Fund Advisors grew 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 valued at $2,495,000 after buying an additional 30,661 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of 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 valued at $2,767,000 after buying an additional 23,872 shares during the period. Institutional investors own 79.39% of the company’s stock.
Several brokerages have commented on MERC. BidaskClub cut shares of Mercer International from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Credit Suisse Group cut shares of Mercer International from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 26th. Royal Bank of Canada upgraded shares of Mercer International from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $12.00 to $15.00 in a research report on Wednesday, October 18th. Finally, CSFB cut shares of Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 target price for the company. in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Mercer International currently has a consensus rating of “Hold” and an average target price 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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