Mercer International Inc. (MERC) CEO David M. Gandossi Sells 12,000 Shares of Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) CEO David M. Gandossi sold 12,000 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $14.31, for a total transaction of $171,720.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Mercer International Inc. (NASDAQ MERC) traded up $0.05 during midday trading on Thursday, hitting $14.35. 186,900 shares of the stock traded hands, compared to its average volume of 328,600. Mercer International Inc. has a 12-month low of $10.35 and a 12-month high of $15.00. The stock has a market cap of $926.50, a price-to-earnings ratio of 19.93 and a beta of 1.48. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Wednesday, December 27th will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, December 26th. This represents a $0.50 annualized dividend and a dividend yield of 3.48%. This is a positive change from Mercer International’s previous quarterly dividend of $0.12. Mercer International’s dividend payout ratio is presently 69.44%.

Several equities analysts have issued reports on the stock. 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 note on Wednesday, October 18th. CSFB lowered shares of Mercer International from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Friday, October 27th. BidaskClub raised shares of Mercer International from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. 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. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.19.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Walthausen & Co. LLC increased its position in shares of Mercer International by 8.1% during the 2nd quarter. Walthausen & Co. LLC now owns 1,051,619 shares of the basic materials company’s stock valued at $12,094,000 after purchasing an additional 79,242 shares during the last quarter. Kennedy Capital Management Inc. increased its position in shares of 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 purchasing an additional 47,623 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 purchasing an additional 23,872 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of 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 purchasing an additional 30,661 shares during the last quarter. Finally, Renaissance Group LLC increased its position in shares of Mercer International by 10.5% during the 3rd quarter. Renaissance Group LLC now owns 43,100 shares of the basic materials company’s stock valued at $511,000 after purchasing an additional 4,087 shares during the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This article was first posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://www.com-unik.info/2018/01/04/mercer-international-inc-merc-ceo-david-m-gandossi-sells-12000-shares-of-stock.html.

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.

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