Mercer International Inc. (MERC) Major Shareholder Peter R. Kellogg Purchases 15,000 Shares
Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter R. Kellogg acquired 15,000 shares of the firm’s stock in a transaction on Thursday, April 13th. The shares were bought at an average cost of $11.50 per share, for a total transaction of $172,500.00. Following the acquisition, the insider now owns 2,788,916 shares in the company, valued at $32,072,534. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Mercer International Inc. (NASDAQ:MERC) traded up 1.74% on Tuesday, hitting $11.70. 106,106 shares of the stock traded hands. The stock has a 50 day moving average of $11.63 and a 200-day moving average of $10.48. The stock has a market cap of $756.46 million, a PE ratio of 21.67 and a beta of 1.43. Mercer International Inc. has a 1-year low of $7.03 and a 1-year high of $12.98.
Mercer International (NASDAQ:MERC) last posted its quarterly earnings results on Thursday, February 9th. The basic materials company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.05. The business earned $221.69 million during the quarter. Mercer International had a return on equity of 8.34% and a net margin of 3.75%. On average, equities research analysts expect that Mercer International Inc. will post $0.97 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 4th. Investors of record on Tuesday, March 28th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Friday, March 24th. Mercer International’s dividend payout ratio (DPR) is presently 86.79%.
ILLEGAL ACTIVITY WARNING: “Mercer International Inc. (MERC) Major Shareholder Peter R. Kellogg Purchases 15,000 Shares” was first published by Daily Political and is owned by of Daily Political. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/04/18/mercer-international-inc-merc-major-shareholder-peter-r-kellogg-purchases-15000-shares.html.
A number of equities research analysts have commented on the stock. Standpoint Research lowered shares of Mercer International from a “buy” rating to a “hold” rating in a report on Monday, January 23rd. Royal Bank of Canada reissued a “hold” rating and set a $12.00 price objective on shares of Mercer International in a report on Tuesday, March 14th. Finally, Zacks Investment Research raised shares of Mercer International from a “sell” rating to a “hold” rating in a report on Thursday, December 29th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $12.25.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Credit Agricole S A bought a new position in Mercer International during the fourth quarter worth approximately $1,407,000. O Shaughnessy Asset Management LLC increased its position in Mercer International by 45.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 42,402 shares of the basic materials company’s stock worth $452,000 after buying an additional 13,307 shares during the period. Renaissance Group LLC increased its position in Mercer International by 10.1% in the fourth quarter. Renaissance Group LLC now owns 34,732 shares of the basic materials company’s stock worth $370,000 after buying an additional 3,178 shares during the period. Russell Investments Group Ltd. bought a new position in Mercer International during the fourth quarter worth approximately $2,384,000. Finally, Acrospire Investment Management LLC increased its position in Mercer International by 0.8% in the third quarter. Acrospire Investment Management LLC now owns 12,998 shares of the basic materials company’s stock worth $110,000 after buying an additional 98 shares during the period. 81.58% of the stock is owned by institutional investors and hedge funds.
Mercer International Company Profile
Mercer International Inc is a producer of northern bleached softwood kraft (NBSK) pulp, which is pulp that is sold on the open market. The Company also produces and sells tall oil, a by-product of its production process, which is used as both a chemical additive and as a green energy source. It produces and sells NBSK pulp, which is a bleached kraft pulp manufactured using northern softwood.
Receive News & Ratings for Mercer International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercer International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.