Trading Report: The Peter R. Kellogg Acquires 76,700 Shares of Mercer International Inc. (MERC) Stock

The Peter R. Kellogg Acquires 76,700 Shares of Mercer International Inc. (MERC) Stock

Mercer International Inc. (NASDAQ:MERC) major shareholder Peter R. Kellogg acquired 76,700 shares of the stock in a transaction dated Wednesday, October 12th. The stock was acquired at an average price of $8.26 per share, for a total transaction of $633,542.00. Following the completion of the acquisition, the insider now directly owns 2,649,109 shares of the company’s stock, valued at $21,881,640.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Inc. (NASDAQ:MERC) opened at 8.10 on Tuesday. The company’s 50-day moving average is $8.41 and its 200-day moving average is $8.56. Mercer International Inc. has a one year low of $5.95 and a one year high of $11.68. The firm has a market capitalization of $523.71 million, a P/E ratio of 10.45 and a beta of 1.29.

Mercer International (NASDAQ:MERC) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 forecast that Mercer International Inc. will post $0.54 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Monday, September 26th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date was Thursday, September 22nd. Mercer International’s payout ratio is 59.74%.

A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Mercer International from a “hold” rating to a “sell” rating in a report on Friday, July 22nd. TheStreet downgraded shares of Mercer International from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $12.13.

Several institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC acquired a new position in Mercer International during the first quarter worth about $111,000. Bogle Investment Management L P DE boosted its position in Mercer International by 153.6% in the first quarter. Bogle Investment Management L P DE now owns 149,776 shares of the company’s stock worth $1,415,000 after buying an additional 90,711 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in Mercer International by 36.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 49,201 shares of the company’s stock worth $393,000 after buying an additional 13,073 shares during the last quarter. Emerald Advisers Inc. PA boosted its position in Mercer International by 28.2% in the second quarter. Emerald Advisers Inc. PA now owns 103,078 shares of the company’s stock worth $823,000 after buying an additional 22,645 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Mercer International by 42.7% in the second quarter. Bank of New York Mellon Corp now owns 124,383 shares of the company’s stock worth $993,000 after buying an additional 37,194 shares during the last quarter. Hedge funds and other institutional investors own 58.15% of the company’s stock.

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