Mercer International Inc. (NASDAQ:MERC - Get Free Report) TSE: MRI.U major shareholder Peter R. Kellogg acquired 58,400 shares of the business's stock in a transaction on Monday, June 9th. The shares were purchased at an average cost of $3.75 per share, for a total transaction of $219,000.00. Following the completion of the transaction, the insider owned 2,000,000 shares in the company, valued at approximately $7,500,000. This represents a 3.01% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Mercer International Stock Performance
MERC traded down $0.11 during mid-day trading on Friday, reaching $3.89. 399,378 shares of the company traded hands, compared to its average volume of 454,755. The stock has a market capitalization of $260.12 million, a P/E ratio of -2.88 and a beta of 1.04. 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's fifty day moving average price is $3.68 and its 200-day moving average price is $5.33. Mercer International Inc. has a 52-week low of $3.20 and a 52-week high of $8.52.
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 company had revenue of $506.97 million for the quarter, compared to analysts' expectations of $508.42 million. Mercer International had a negative net margin of 4.55% and a negative return on equity of 12.07%. On average, sell-side analysts expect that Mercer International Inc. will post -0.29 EPS for the current year.
Mercer International Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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 annualized dividend and a dividend yield of 7.71%. Mercer International's dividend payout ratio (DPR) is -22.22%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on MERC. Royal Bank Of Canada dropped their price target on Mercer International from $7.00 to $5.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 22nd. CIBC dropped their price target on Mercer International from $6.00 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. TD Securities dropped their price target on Mercer International from $5.50 to $4.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Finally, Raymond James Financial dropped their price target on Mercer International from $7.00 to $5.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $4.75.
View Our Latest Stock Analysis on Mercer International
Institutional Investors Weigh In On Mercer International
A hedge fund recently raised its stake in Mercer International stock. Quantbot Technologies LP lifted its stake in Mercer International Inc. (NASDAQ:MERC - Free Report) TSE: MRI.U by 943.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,470 shares of the basic materials company's stock after purchasing an additional 18,508 shares during the period. Quantbot Technologies LP's holdings in Mercer International were worth $126,000 at the end of the most recent reporting period. 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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