Mercer International Inc. (MERC) Major Shareholder Buys $279,600.00 in Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter R. Kellogg acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were acquired at an average cost of $13.98 per share, with a total value of $279,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Shares of Mercer International Inc. (NASDAQ:MERC) opened at $14.20 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.44 and a current ratio of 3.58. Mercer International Inc. has a 52 week low of $10.35 and a 52 week high of $15.00. The stock has a market capitalization of $923.25, a PE ratio of 19.72 and a beta of 1.48.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Wednesday, December 27th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.50 annualized dividend and a yield of 3.52%. This is a positive change from Mercer International’s previous quarterly dividend of $0.12. Mercer International’s payout ratio is 63.89%.

A number of hedge funds have recently modified their holdings of MERC. Parametric Portfolio Associates LLC lifted its stake in Mercer International by 9.3% during the second 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 last quarter. Renaissance Group LLC lifted its stake in Mercer International by 9.7% during the second 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 last quarter. Nationwide Fund Advisors lifted its stake in Mercer International by 16.5% during the second 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 last quarter. Bank of New York Mellon Corp lifted its stake in Mercer International by 11.0% during the second quarter. Bank of New York Mellon Corp now owns 240,556 shares of the basic materials company’s stock worth $2,767,000 after purchasing an additional 23,872 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Mercer International by 22.2% during the second quarter. Russell Investments Group Ltd. now owns 314,654 shares of the basic materials company’s stock worth $3,618,000 after purchasing an additional 57,063 shares during the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently issued reports on MERC. BidaskClub raised Mercer International from a “sell” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada lifted 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. CSFB lowered Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Friday, October 27th. Finally, Credit Suisse Group lowered Mercer International from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 26th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.19.

TRADEMARK VIOLATION NOTICE: “Mercer International Inc. (MERC) Major Shareholder Buys $279,600.00 in Stock” was posted by Community Financial News and is the property of of Community Financial News. If you are reading this report on another site, it was stolen and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.com-unik.info/2017/12/25/mercer-international-inc-merc-major-shareholder-buys-279600-00-in-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.

Insider Buying and Selling by Quarter for Mercer International (NASDAQ:MERC)

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit