Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Acquires 295,000 Shares

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 295,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average cost of $1.69 per share, for a total transaction of $498,550.00. Following the purchase, the insider directly owned 1,520,000 shares in the company, valued at approximately $2,568,800. This trade represents a 24.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Price Performance

MERC stock remained flat at $1.83 during midday trading on Tuesday. 494,305 shares of the company traded hands, compared to its average volume of 515,128. The firm has a market capitalization of $122.57 million, a price-to-earnings ratio of -0.71 and a beta of 0.76. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.68 and a current ratio of 3.01. The company’s fifty day moving average is $2.13 and its two-hundred day moving average is $2.94. Mercer International Inc. has a 52 week low of $1.48 and a 52 week high of $8.28.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its quarterly earnings data on Thursday, November 6th. The basic materials company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.08). Mercer International had a negative return on equity of 37.38% and a negative net margin of 9.04%.The firm had revenue of $458.07 million during the quarter, compared to analyst estimates of $482.70 million. On average, research analysts predict that Mercer International Inc. will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On Mercer International

A number of large investors have recently modified their holdings of the business. Iat Reinsurance Co. LTD. lifted its stake in shares of 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 worth $48,096,000 after buying an additional 220,000 shares in the last quarter. Millennium Management LLC lifted its stake in Mercer International by 16.1% in the 3rd 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. Gabelli Funds LLC purchased a new stake in Mercer International in the 2nd quarter valued at $1,804,000. 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 worth $969,000 after acquiring an additional 214,008 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Mercer International during the 2nd quarter valued at about $244,000. Hedge funds and other institutional investors own 85.79% of the company’s stock.

Analyst Upgrades and Downgrades

MERC has been the subject of a number of recent analyst reports. Royal Bank Of Canada cut 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. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a report on Monday, December 1st. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $3.50.

Mercer International Company Profile

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.