Mercer International Inc. (NASDAQ:MERC - Get Free Report) TSE: MRI.U major shareholder Peter R. Kellogg bought 58,400 shares of the stock in a transaction dated Monday, June 9th. The shares were acquired at an average cost of $3.75 per share, for a total transaction of $219,000.00. Following the completion of the acquisition, the insider directly owned 2,000,000 shares of the company's stock, valued at approximately $7,500,000. This trade represents a 3.01% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Mercer International Price Performance
Shares of Mercer International stock traded up $0.06 on Wednesday, hitting $3.68. 731,911 shares of the company traded hands, compared to its average volume of 448,969. The firm's 50-day simple moving average is $3.70 and its 200 day simple moving average is $5.39. The company has a current ratio of 3.25, a quick ratio of 1.98 and a debt-to-equity ratio of 3.44. The company has a market cap of $246.08 million, a P/E ratio of -2.73 and a beta of 1.04. Mercer International Inc. has a 12-month low of $3.20 and a 12-month high of $8.57.
Mercer International (NASDAQ:MERC - Get Free Report) TSE: MRI.U last issued its earnings results on Thursday, May 1st. The basic materials company reported ($0.33) EPS for the quarter. The business had revenue of $506.97 million during the quarter, compared to analysts' expectations of $508.42 million. Mercer International had a negative return on equity of 12.07% and a negative net margin of 4.55%. Analysts expect that Mercer International Inc. will post -0.29 earnings per share for the current fiscal year.
Mercer International Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 26th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 8.15%. The ex-dividend date of this dividend was Thursday, June 26th. Mercer International's dividend payout ratio is currently -22.22%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on MERC shares. CIBC dropped their target price on shares of Mercer International from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Royal Bank Of Canada cut 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 report on Tuesday, April 22nd. Raymond James Financial cut their price target 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. Finally, TD Securities cut their price target on shares of Mercer International from $5.50 to $4.00 and set a "hold" rating for the company in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $4.75.
Read Our Latest Report on MERC
Hedge Funds Weigh In On Mercer International
A hedge fund recently bought a new stake in Mercer International stock. KLP Kapitalforvaltning AS acquired a new position in Mercer International Inc. (NASDAQ:MERC - Free Report) TSE: MRI.U during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,000 shares of the basic materials company's stock, valued at approximately $58,000. Hedge funds and other institutional investors own 85.79% of the company's stock.
About Mercer International
(
Get Free Report)
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.
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