Millennium Management LLC Sells 630,815 Shares of Mercer International Inc. (NASDAQ:MERC)

Millennium Management LLC reduced its holdings in Mercer International Inc. (NASDAQ:MERC - Free Report) TSE: MRI.U by 26.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,731,375 shares of the basic materials company's stock after selling 630,815 shares during the period. Millennium Management LLC owned approximately 2.59% of Mercer International worth $11,254,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, KLP Kapitalforvaltning AS purchased a new position in shares of Mercer International during the 4th quarter worth about $58,000. 85.79% of the stock is currently owned by institutional investors.

Insider Activity

In other Mercer International news, VP Wolfgang Beck purchased 8,791 shares of Mercer International stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $3.60 per share, for a total transaction of $31,647.60. Following the acquisition, the vice president now owns 35,054 shares in the company, valued at $126,194.40. This trade represents a 33.47% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Carsten Merforth purchased 7,000 shares of Mercer International stock in a transaction dated Thursday, May 8th. The stock was acquired at an average price of $3.62 per share, with a total value of $25,340.00. Following the acquisition, the chief operating officer now owns 22,651 shares in the company, valued at approximately $81,996.62. This represents a 44.73% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 16,791 shares of company stock worth $60,628. 1.00% of the stock is currently owned by corporate insiders.

Mercer International Trading Up 0.7%

MERC traded up $0.03 on Thursday, reaching $3.56. 78,342 shares of the company traded hands, compared to its average volume of 430,954. Mercer International Inc. has a one year low of $3.20 and a one year high of $9.85. The firm has a fifty day simple moving average of $4.70 and a two-hundred day simple moving average of $5.94. The company has a market cap of $237.73 million, a P/E ratio of -2.80 and a beta of 1.08. The company has a quick ratio of 2.39, a current ratio of 3.79 and a debt-to-equity ratio of 3.09.

Mercer International (NASDAQ:MERC - Get Free Report) TSE: MRI.U last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported ($0.33) earnings per share for the quarter. Mercer International had a negative net margin of 4.17% and a negative return on equity of 5.18%. The company had revenue of $506.97 million for the quarter, compared to the consensus estimate of $508.42 million. As a group, equities research analysts expect that Mercer International Inc. will post -0.29 earnings per share for the current year.

Mercer International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Thursday, June 26th will be issued a $0.075 dividend. The ex-dividend date is Thursday, June 26th. This represents a $0.30 annualized dividend and a dividend yield of 8.44%. Mercer International's dividend payout ratio is currently -22.22%.

Analysts Set New Price Targets

MERC has been the subject of a number of recent analyst reports. Royal Bank of Canada dropped their price target on shares of Mercer International from $7.00 to $5.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 22nd. CIBC dropped their price target on shares of Mercer International from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. TD Securities dropped their price target on shares of Mercer International from $5.50 to $4.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, Raymond James decreased their price objective on shares of Mercer International from $7.00 to $5.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $4.75.

About Mercer International

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.