Peter Kellogg Acquires 380,000 Shares of Mercer International (NASDAQ:MERC) Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 380,000 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was bought at an average price of $0.96 per share, for a total transaction of $364,800.00. Following the acquisition, the insider directly owned 1,852,000 shares of the company’s stock, valued at approximately $1,777,920. This represents a 25.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Mercer International Stock Down 2.7%

MERC stock opened at $0.97 on Friday. Mercer International Inc. has a twelve month low of $0.75 and a twelve month high of $4.47. The company has a quick ratio of 1.22, a current ratio of 2.17 and a debt-to-equity ratio of 23.58. The stock’s 50 day moving average is $1.19 and its 200-day moving average is $1.70. The firm has a market capitalization of $65.15 million, a PE ratio of -0.12 and a beta of 0.53.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its earnings results on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.04). Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. The company had revenue of $489.30 million during the quarter, compared to the consensus estimate of $493.00 million. Sell-side analysts expect that Mercer International Inc. will post -2.21 EPS for the current fiscal year.

Institutional Trading of Mercer International

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of Mercer International by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock valued at $1,111,000 after acquiring an additional 14,603 shares during the last quarter. Millennium Management LLC increased 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 valued at $2,866,000 after acquiring an additional 137,906 shares during the last quarter. Iat Reinsurance Co. LTD. increased its position 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 acquiring an additional 220,000 shares during the last quarter. Gabelli Funds LLC purchased a new stake in Mercer International in the second quarter worth $1,804,000. Finally, Gamco Investors INC. ET AL purchased a new stake in Mercer International in the second quarter worth $244,000. 85.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MERC shares. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a report on Friday, March 27th. TD dropped their target price on Mercer International from $1.00 to $0.50 and set a “sell” rating on the stock in a report on Monday, May 11th. TD Securities lowered Mercer International from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, Royal Bank Of Canada decreased their price target on Mercer International from $1.25 to $1.00 and set a “sector perform” rating for the company in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and a consensus price target of $1.85.

Mercer International Company Profile

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.