Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Buys 136,000 Shares

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 136,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $0.86 per share, for a total transaction of $116,960.00. Following the acquisition, the insider directly owned 1,334,231 shares of the company’s stock, valued at approximately $1,147,438.66. This represents a 11.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Mercer International Trading Down 4.2%

Shares of Mercer International stock opened at $0.65 on Thursday. The stock has a fifty day simple moving average of $0.88 and a 200 day simple moving average of $1.47. Mercer International Inc. has a 12-month low of $0.58 and a 12-month high of $4.47. The company has a market capitalization of $43.37 million, a P/E ratio of -0.08 and a beta of 0.52. The company has a current ratio of 2.17, a quick ratio of 1.22 and a debt-to-equity ratio of 23.58.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its quarterly earnings data on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.04). The company had revenue of $489.30 million for the quarter, compared to the consensus estimate of $493.00 million. Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. On average, sell-side analysts anticipate that Mercer International Inc. will post -2.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on MERC shares. Wall Street Zen raised shares of Mercer International from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. TD reduced their price objective on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating for the company in a research report on Monday, May 11th. Royal Bank Of Canada decreased their price objective on shares of Mercer International from $1.25 to $1.00 and set a “sector perform” rating for the company in a research note on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Mercer International has an average rating of “Strong Sell” and an average target price of $1.85.

Institutional Investors Weigh In On Mercer International

Several large investors have recently made changes to their positions in MERC. Geode Capital Management LLC boosted its holdings in shares of Mercer International by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock worth $1,111,000 after buying an additional 14,603 shares during the last quarter. Gamco Investors INC. ET AL bought a new position in Mercer International during the second quarter valued at about $244,000. Millennium Management LLC increased its holdings in Mercer International by 16.1% during the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after buying an additional 137,906 shares during the last quarter. Jump Financial LLC increased its holdings in Mercer International by 340.6% during the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after buying an additional 214,008 shares during the last quarter. Finally, Gabelli Funds LLC bought a new stake in Mercer International in the second quarter worth about $1,804,000. 85.79% of the stock is owned by hedge funds and other institutional investors.

Mercer International Company Profile

Mercer International Inc is a publicly traded pulp producer headquartered in Vancouver, British Columbia. Listed on the NASDAQ under the symbol MERC, the company specializes in the manufacture of Northern Bleached Softwood Kraft (NBSK) pulp and dissolving pulp for use in tissue, specialty paper and textile applications.

Mercer’s core business activities include the operation of integrated pulp mills in North America and Europe. Its production portfolio encompasses NBSK pulp, renowned for its strength and versatility, and dissolving pulp, which serves as a key raw material in the manufacture of viscose, cellulose acetate and other specialty products.

The company’s facilities are located in British Columbia and the U.S.