Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter R. Kellogg acquired 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The stock was purchased at an average cost of $14.13 per share, with a total value of $565,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Mercer International Inc. (NASDAQ:MERC) opened at $14.75 on Friday. The company has a current ratio of 3.58, a quick ratio of 2.44 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $934.62, a price-to-earnings ratio of 16.33 and a beta of 1.49. Mercer International Inc. has a 1 year low of $10.45 and a 1 year high of $15.00.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Wednesday, December 27th were given a dividend of $0.125 per share. This is an increase from Mercer International’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, December 26th. This represents a $0.50 annualized dividend and a yield of 3.39%. Mercer International’s dividend payout ratio (DPR) is presently 69.44%.
MERC has been the subject of several research analyst reports. BidaskClub raised Mercer International from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Credit Suisse Group downgraded Mercer International from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 26th. Royal Bank of Canada raised their price target on Mercer International from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Monday, October 30th. Finally, CSFB downgraded 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.19.
A number of institutional investors have recently added to or reduced their stakes in MERC. Parametric Portfolio Associates LLC increased its position 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 buying an additional 1,654 shares in the last quarter. Renaissance Group LLC increased its position 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 buying an additional 3,434 shares in the last quarter. Nationwide Fund Advisors increased its position 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 buying an additional 30,661 shares in the last quarter. Bank of New York Mellon Corp grew its position 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 purchasing an additional 23,872 shares during the period. Finally, Kennedy Capital Management Inc. grew its position 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 purchasing an additional 47,623 shares during the period. 79.00% of the stock is owned by institutional investors.
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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