Mercer International Inc. (MERC) Major Shareholder Peter R. Kellogg Acquires 76,700 Shares
Mercer International Inc. (NASDAQ:MERC) major shareholder Peter R. Kellogg purchased 76,700 shares of the company’s stock in a transaction dated Wednesday, October 12th. The shares were acquired at an average price of $8.26 per share, for a total transaction of $633,542.00. Following the purchase, the insider now directly owns 2,649,109 shares of the company’s stock, valued at approximately $21,881,640.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Mercer International Inc. (NASDAQ:MERC) opened at 7.98 on Friday. The company’s 50-day moving average price is $8.42 and its 200-day moving average price is $8.58. Mercer International Inc. has a 1-year low of $5.95 and a 1-year high of $11.68. The stock has a market cap of $515.95 million, a P/E ratio of 10.30 and a beta of 1.29.
Mercer International (NASDAQ:MERC) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.12. Mercer International had a net margin of 5.10% and a return on equity of 12.44%. Analysts predict that Mercer International Inc. will post $0.54 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Monday, September 26th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 5.76%. The ex-dividend date of this dividend was Thursday, September 22nd. Mercer International’s payout ratio is 59.74%.
Several large investors have recently modified their holdings of MERC. Acrospire Investment Management LLC boosted its position in Mercer International by 10.3% in the second quarter. Acrospire Investment Management LLC now owns 12,900 shares of the company’s stock valued at $103,000 after buying an additional 1,200 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Mercer International by 546.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 15,643 shares of the company’s stock valued at $125,000 after buying an additional 13,225 shares during the period. Parametric Portfolio Associates LLC boosted its position in Mercer International by 3.9% in the second quarter. Parametric Portfolio Associates LLC now owns 20,971 shares of the company’s stock valued at $167,000 after buying an additional 789 shares during the period. Oak Associates Ltd. OH acquired a new position in Mercer International during the second quarter valued at approximately $249,000. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Mercer International by 36.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 49,201 shares of the company’s stock valued at $393,000 after buying an additional 13,073 shares during the period. 57.79% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Mercer International from a “sell” rating to a “hold” rating in a research note on Thursday, September 29th. TheStreet lowered Mercer International from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Mercer International currently has an average rating of “Buy” and an average target price of $12.13.
About Mercer International
Mercer International Inc is engaged in producing (northern bleached softwood kraft) NBSK pulp. The Company operates in the pulp industry and produces pulp for resale, known as market pulp, in Germany. It also produces and sells tall oil, which is used as both a chemical additive and as a green energy source.
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