Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter R. Kellogg bought 17,243 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was purchased at an average cost of $13.46 per share, for a total transaction of $232,090.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Mercer International Inc. (MERC) opened at $13.40 on Thursday. 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 stock has a market cap of $864.73, a PE ratio of 15.11 and a beta of 1.48. Mercer International Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $15.00.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Wednesday, December 27th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.73%. This is a boost from Mercer International’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, December 26th. Mercer International’s dividend payout ratio is presently 63.89%.
A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Mercer International from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Credit Suisse Group cut shares of Mercer International from an “outperform” rating to a “neutral” rating in a report on Thursday, October 26th. Royal Bank of Canada raised 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 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 on the stock. in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $16.19.
Several hedge funds have recently modified their holdings of MERC. Parametric Portfolio Associates LLC raised its holdings 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 valued at $224,000 after acquiring an additional 1,654 shares during the period. Renaissance Group LLC raised its holdings 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 valued at $449,000 after acquiring an additional 3,434 shares during the period. Nationwide Fund Advisors raised its holdings 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 valued at $2,495,000 after acquiring an additional 30,661 shares during the period. Bank of New York Mellon Corp raised its holdings 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 valued at $2,767,000 after acquiring an additional 23,872 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Mercer International by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 283,990 shares of the basic materials company’s stock valued at $3,322,000 after acquiring an additional 8,231 shares during the period. 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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