Mercer International Inc. (NASDAQ:MERC - Get Free Report) (TSE:MRI.U) major shareholder Peter Kellogg acquired 6,822 shares of the business's stock in a transaction on Friday, October 3rd. The shares were bought at an average price of $2.79 per share, for a total transaction of $19,033.38. Following the acquisition, the insider owned 866,822 shares in the company, valued at approximately $2,418,433.38. This trade represents a 0.79% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Mercer International Stock Performance
Mercer International stock opened at $1.83 on Wednesday. The firm's 50 day simple moving average is $2.13 and its 200-day simple moving average is $2.94. The company has a market cap of $122.57 million, a P/E ratio of -0.71 and a beta of 0.76. The company has a debt-to-equity ratio of 4.30, a current ratio of 3.01 and a quick ratio of 1.68. Mercer International Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $8.28.
Mercer International (NASDAQ:MERC - Get Free Report) (TSE:MRI.U) last issued its quarterly earnings results on Thursday, November 6th. The basic materials company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.08). Mercer International had a negative net margin of 9.04% and a negative return on equity of 37.38%. The firm had revenue of $458.07 million during the quarter, compared to analysts' expectations of $482.70 million. As a group, equities research analysts predict that Mercer International Inc. will post -0.29 EPS for the current year.
Analysts Set New Price Targets
Several brokerages have recently commented on MERC. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Mercer International in a research report on Monday. Royal Bank Of Canada decreased their price objective on Mercer International from $3.00 to $2.00 and set a "sector perform" rating for the company in a research report on Monday, November 10th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $3.50.
Read Our Latest Stock Report on Mercer International
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of MERC. Millennium Management LLC grew its stake in shares of Mercer International by 16.1% in the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company's stock valued at $2,866,000 after buying an additional 137,906 shares in the last quarter. Iat Reinsurance Co. LTD. lifted its stake in Mercer International by 1.3% in the third quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company's stock valued at $48,096,000 after acquiring an additional 220,000 shares during the last quarter. Gabelli Funds LLC bought a new stake in Mercer International in the second quarter worth approximately $1,804,000. Gamco Investors INC. ET AL bought a new stake in Mercer International in the second quarter worth approximately $244,000. Finally, Jump Financial LLC raised its holdings in shares of Mercer International by 340.6% during the 2nd quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company's stock valued at $969,000 after purchasing an additional 214,008 shares in the last quarter. Hedge funds and other institutional investors own 85.79% of the company's stock.
About Mercer International
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Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.
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