Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) insider Jimmy S. H. Lee sold 25,000 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $12.12, for a total transaction of $303,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Mercer International Inc. (NASDAQ:MERC) opened at 13.45 on Friday. Mercer International Inc. has a one year low of $7.60 and a one year high of $13.63. The stock has a market capitalization of $873.89 million, a P/E ratio of 22.91 and a beta of 1.49. The stock’s 50 day moving average is $11.37 and its 200-day moving average is $11.46.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 27th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Tuesday, September 26th. Mercer International’s payout ratio is 79.31%.
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A number of brokerages have recently issued reports on MERC. BidaskClub upgraded shares of Mercer International from a “hold” rating to a “buy” rating in a report on Monday, July 24th. TD Securities raised their target price on shares of Mercer International from $13.00 to $15.75 and gave the company a “hold” rating in a report on Monday, July 31st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.25.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC raised its holdings in Mercer International by 9.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,478 shares of the basic materials company’s stock worth $224,000 after buying an additional 1,654 shares during the period. Renaissance Group LLC raised its holdings in Mercer International by 9.7% during the 2nd quarter. Renaissance Group LLC now owns 39,013 shares of the basic materials company’s stock worth $449,000 after buying an additional 3,434 shares during the period. Geode Capital Management LLC raised its holdings in Mercer International by 3.0% during the 1st quarter. Geode Capital Management LLC now owns 283,990 shares of the basic materials company’s stock worth $3,322,000 after buying an additional 8,231 shares during the period. Bank of New York Mellon Corp raised its holdings in Mercer International by 11.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 240,556 shares of the basic materials company’s stock worth $2,767,000 after buying an additional 23,872 shares during the period. Finally, Nationwide Fund Advisors raised its holdings in Mercer International by 16.5% during the 2nd quarter. Nationwide Fund Advisors now owns 216,961 shares of the basic materials company’s stock worth $2,495,000 after buying an additional 30,661 shares during the period. Hedge funds and other institutional investors own 80.15% of the company’s stock.
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.
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