Mercer International Inc. (NASDAQ:MERC) Major Shareholder Buys $219,000.00 in Stock

Mercer International Inc. (NASDAQ:MERC - Get Free Report) TSE: MRI.U major shareholder Peter R. Kellogg acquired 58,400 shares of the company's stock in a transaction dated Monday, June 9th. The shares were purchased at an average price of $3.75 per share, with a total value of $219,000.00. Following the completion of the acquisition, the insider owned 2,000,000 shares in the company, valued at approximately $7,500,000. The trade was a 3.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Mercer International Stock Down 3.4%

Shares of Mercer International stock traded down $0.14 during trading hours on Friday, hitting $3.87. 229,276 shares of the company's stock traded hands, compared to its average volume of 452,290. The stock has a 50 day simple moving average of $3.68 and a 200-day simple moving average of $5.36. The company has a quick ratio of 1.98, a current ratio of 3.25 and a debt-to-equity ratio of 3.44. The company has a market cap of $258.45 million, a PE ratio of -2.86 and a beta of 1.04. Mercer International Inc. has a twelve month low of $3.20 and a twelve month high of $8.57.

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

Mercer International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 26th were paid a $0.075 dividend. The ex-dividend date was Thursday, June 26th. This represents a $0.30 dividend on an annualized basis and a yield of 7.76%. Mercer International's dividend payout ratio (DPR) is -22.22%.

Analyst Ratings Changes

Several brokerages recently issued reports on MERC. CIBC lowered their price target on Mercer International from $6.00 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. TD Securities lowered their price target 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 price target on Mercer International from $7.00 to $5.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. Finally, Royal Bank Of Canada lowered their target price on 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. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $4.75.

Hedge Funds Weigh In On Mercer International

A hedge fund recently bought a new stake in Mercer International stock. KLP Kapitalforvaltning AS purchased a new position in Mercer International Inc. (NASDAQ:MERC - Free Report) TSE: MRI.U in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 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.

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.