Key Points
- Peter Kellogg bought 70,000 shares of Mercer International on July 22 at an average price of $3.38, increasing his direct stake to 1,000,000 shares (a 7.53% rise) in a transaction disclosed in an SEC filing.
- Mercer reported weak results (Q EPS -$1.39 vs. -$0.88 expected), with negative ROE and net margin, and analysts hold a consensus "Reduce" rating with a $2.95 target after several downgrades.
- The stock opened at $1.67, trades in a 52-week range of $1.48–$6.78, has a market cap of about $111.9 million, and is heavily held by institutions (85.79% ownership).
Mercer International Inc. (NASDAQ:MERC - Get Free Report) (TSE:MRI.U) major shareholder Peter Kellogg acquired 70,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were bought at an average price of $3.38 per share, with a total value of $236,600.00. Following the completion of the purchase, the insider directly owned 1,000,000 shares of the company's stock, valued at approximately $3,380,000. This represents a 7.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Mercer International Stock Up 1.2%
Shares of NASDAQ MERC opened at $1.67 on Wednesday. Mercer International Inc. has a 52-week low of $1.48 and a 52-week high of $6.78. The company has a debt-to-equity ratio of 23.58, a quick ratio of 1.79 and a current ratio of 3.05. The business has a fifty day moving average of $2.08 and a two-hundred day moving average of $2.28. The stock has a market cap of $111.86 million, a PE ratio of -0.22 and a beta of 0.68.
Mercer International (NASDAQ:MERC - Get Free Report) (TSE:MRI.U) last posted its earnings results on Thursday, February 12th. The basic materials company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.51). The firm had revenue of $449.50 million during the quarter, compared to the consensus estimate of $459.84 million. Mercer International had a negative return on equity of 81.16% and a negative net margin of 26.65%. As a group, equities research analysts expect that Mercer International Inc. will post -0.29 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Mercer International by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company's stock worth $1,111,000 after acquiring an additional 14,603 shares during the last quarter. Gamco Investors INC. ET AL bought a new position in shares of Mercer International in the second quarter worth about $244,000. Millennium Management LLC lifted its position in shares of 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 purchasing an additional 137,906 shares in the last quarter. Jump Financial LLC lifted its position in shares of 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 purchasing an additional 214,008 shares in the last quarter. Finally, Iat Reinsurance Co. LTD. grew its stake in shares of Mercer International by 1.3% during 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 purchasing an additional 220,000 shares during the last quarter. Institutional investors and hedge funds own 85.79% of the company's stock.
Analyst Ratings Changes
Several analysts have weighed in on MERC shares. TD Securities cut shares of Mercer International from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 18th. TD Cowen downgraded Mercer International from a "hold" rating to a "sell" rating and boosted their target price for the stock from $2.00 to $2.25 in a report on Wednesday, January 21st. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Mercer International in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $2.95.
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Mercer International Company Profile
(
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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.
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