Insider Buying: Mercer International Inc. (NASDAQ:MERC) Major Shareholder Purchases 760,000 Shares of Stock

Mercer International Inc. (NASDAQ:MERC - Get Free Report) TSE: MRI.U major shareholder Peter R. Kellogg purchased 760,000 shares of the stock in a transaction on Tuesday, July 22nd. The shares were purchased at an average price of $3.25 per share, for a total transaction of $2,470,000.00. Following the transaction, the insider directly owned 2,300,000 shares of the company's stock, valued at approximately $7,475,000. This represents a 49.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available 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 Trading Up 3.9%

Shares of NASDAQ:MERC traded up $0.15 during trading on Friday, reaching $3.96. 956,329 shares of the company traded hands, compared to its average volume of 650,807. The company has a current ratio of 3.25, a quick ratio of 1.98 and a debt-to-equity ratio of 3.44. Mercer International Inc. has a 52-week low of $3.18 and a 52-week high of $8.28. The firm has a market capitalization of $264.81 million, a price-to-earnings ratio of -2.93 and a beta of 1.04. The business's fifty day moving average is $3.64 and its 200-day moving average is $5.14.

Mercer International (NASDAQ:MERC - Get Free Report) TSE: MRI.U last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported ($0.33) earnings per share for the quarter. The firm 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%. As a group, analysts forecast that Mercer International Inc. will post -0.29 EPS for the current year.

Mercer International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, June 26th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 7.58%. Mercer International's dividend payout ratio is currently -22.22%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Mercer International stock. Quantbot Technologies LP grew its stake in shares of Mercer International Inc. (NASDAQ:MERC - Free Report) TSE: MRI.U by 943.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing. 85.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on MERC shares. Royal Bank Of Canada decreased their price target on shares of Mercer International from $7.00 to $5.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 22nd. CIBC lowered their price target on shares of Mercer International from $5.00 to $4.00 and set a "neutral" rating for the company in a research note on Tuesday. 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 research report on Wednesday, April 30th. Finally, TD Securities reduced their price objective on Mercer International from $5.50 to $4.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $4.50.

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.