Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter R. Kellogg acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were purchased at an average price of $14.25 per share, with a total value of $142,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Mercer International Inc. (NASDAQ:MERC) opened at $14.10 on Thursday. The firm has a market cap of $916.74, a P/E ratio of 19.58 and a beta of 1.48. Mercer International Inc. has a 1-year low of $10.45 and a 1-year 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.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Wednesday, December 27th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Tuesday, December 26th. This is a boost from Mercer International’s previous quarterly dividend of $0.12. Mercer International’s dividend payout ratio is 69.44%.
A number of research analysts recently issued reports on the stock. BidaskClub cut shares of Mercer International from a “hold” rating to a “sell” rating in a report on Wednesday. CSFB cut shares of 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. Credit Suisse Group cut shares of Mercer International from an “outperform” rating to a “neutral” rating in a report on Thursday, October 26th. Finally, Royal Bank of Canada boosted their price objective on shares of Mercer International from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Monday, October 30th. One 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’s stock. The company currently has a consensus rating of “Hold” and an average target price of $16.19.
Several institutional investors have recently added to or reduced their stakes in MERC. Parametric Portfolio Associates LLC boosted its holdings 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 during the period. Renaissance Group LLC boosted its holdings 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 during the period. Nationwide Fund Advisors boosted its holdings 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 during the period. Bank of New York Mellon Corp boosted its holdings 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 during the period. Finally, Kennedy Capital Management Inc. boosted its holdings 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 during the period. Institutional investors own 79.00% of the company’s stock.
WARNING: “Insider Buying: Mercer International Inc. (MERC) Major Shareholder Buys 10,000 Shares of Stock” was originally published by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://transcriptdaily.com/2018/01/11/insider-buying-mercer-international-inc-merc-major-shareholder-buys-10000-shares-of-stock.html.
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.
Receive News & Ratings for Mercer International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercer International and related companies with MarketBeat.com's FREE daily email newsletter.