Insider Buying: Mercer International Inc. (NASDAQ:MERC) Major Shareholder Buys 50,200 Shares of Stock

Mercer International Inc. (NASDAQ:MERC - Get Free Report) TSE: MRI.U major shareholder Peter R. Kellogg acquired 50,200 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were bought at an average price of $3.62 per share, with a total value of $181,724.00. Following the completion of the transaction, the insider directly owned 1,968,200 shares in the company, valued at approximately $7,124,884. The trade was a 2.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Mercer International Stock Up 4.2%

NASDAQ:MERC traded up $0.16 during trading hours on Thursday, reaching $3.84. The company's stock had a trading volume of 259,901 shares, compared to its average volume of 428,225. The company has a market cap of $256.45 million, a price-to-earnings ratio of -2.84 and a beta of 1.04. Mercer International Inc. has a one year low of $3.20 and a one year high of $8.57. The business's 50-day moving average is $3.68 and its 200-day moving average is $5.38. The company has a debt-to-equity ratio of 3.44, a current ratio of 3.25 and a quick ratio of 1.98.

Mercer International (NASDAQ:MERC - Get Free Report) TSE: MRI.U last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported ($0.33) earnings per share (EPS) for the quarter. Mercer International had a negative net margin of 4.55% and a negative return on equity of 12.07%. The firm had revenue of $506.97 million for the quarter, compared to the consensus estimate of $508.42 million. Equities research analysts predict that Mercer International Inc. will post -0.29 EPS for the current year.

Mercer International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Thursday, June 26th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 7.82%. The ex-dividend date of this dividend was Thursday, June 26th. Mercer International's dividend payout ratio (DPR) is -22.22%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MERC. TD Securities dropped their price objective on Mercer International from $5.50 to $4.00 and set a "hold" rating for the company in a report on Monday, May 5th. Raymond James Financial lowered their target price on Mercer International from $7.00 to $5.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. Royal Bank Of Canada cut their target price on shares of Mercer International from $7.00 to $5.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 22nd. Finally, CIBC cut their price target on Mercer International from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $4.75.

Institutional Investors Weigh In On Mercer International

An institutional investor recently bought a new position in Mercer International stock. KLP Kapitalforvaltning AS acquired a new stake in shares of Mercer International Inc. (NASDAQ:MERC - Free Report) TSE: MRI.U in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,000 shares of the basic materials company's stock, valued at approximately $58,000. 85.79% of the stock is owned by institutional investors and hedge funds.

Mercer International Company Profile

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.