Mercer International Inc. (MERC) Shares Up 4.3% on Insider Buying Activity
Mercer International Inc. (NASDAQ:MERC)’s share price traded up 4.3% on Friday after an insider bought additional shares in the company. The stock traded as high as $8.44 and last traded at $8.32, with a volume of 83,087 shares traded. The stock had previously closed at $7.98.
Specifically, major shareholder Peter R. Kellogg bought 76,700 shares of Mercer International stock in a transaction on Wednesday, October 12th. The shares were bought at an average price of $8.26 per share, for a total transaction of $633,542.00. Following the completion of the transaction, the insider now directly owns 2,649,109 shares of the company’s stock, valued at $21,881,640.34. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 4.70% of the stock is owned by company insiders.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Mercer International from a “sell” rating to a “hold” rating in a report on Thursday, September 29th. TheStreet cut Mercer International from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Three equities research 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.
The stock has a market capitalization of $537.93 million, a PE ratio of 10.74 and a beta of 1.29. The stock’s 50 day moving average price is $8.42 and its 200 day moving average price is $8.58.
Mercer International (NASDAQ:MERC) last announced its 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 return on equity of 12.44% and a net margin of 5.10%. Equities analysts anticipate that Mercer International Inc. will post $0.54 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Monday, September 26th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 5.53%. The ex-dividend date was Thursday, September 22nd. Mercer International’s dividend payout ratio is currently 59.74%.
Hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC raised its stake in shares of 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 in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of 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 in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of 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 in the last quarter. Oak Associates Ltd. OH purchased a new stake in shares of Mercer International during the second quarter valued at $249,000. Finally, Emerald Mutual Fund Advisers Trust raised its stake in shares of 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 in the last quarter. 57.79% of the stock is owned by hedge funds and other institutional investors.
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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