Mercer International Inc. (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) major shareholder Peter Kellogg purchased 105,000 shares of Mercer International stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $0.97 per share, with a total value of $101,850.00. Following the completion of the transaction, the insider owned 1,957,000 shares in the company, valued at approximately $1,898,290. This represents a 5.67% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Mercer International Trading Up 6.9%
MERC opened at $1.04 on Friday. The firm has a market cap of $69.66 million, a price-to-earnings ratio of -0.13 and a beta of 0.53. The company has a current ratio of 2.17, a quick ratio of 1.22 and a debt-to-equity ratio of 23.58. Mercer International Inc. has a 12 month low of $0.75 and a 12 month high of $4.47. The stock has a fifty day moving average price of $1.18 and a 200-day moving average price of $1.69.
Mercer International (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) last released its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.04). The company had revenue of $489.30 million during the quarter, compared to the consensus estimate of $493.00 million. Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%. As a group, equities research analysts anticipate that Mercer International Inc. will post -2.21 earnings per share for the current fiscal year.
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Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Iat Reinsurance Co. LTD. grew its stake in Mercer International by 1.3% during the 3rd 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 during the last quarter. Millennium Management LLC grew its stake in Mercer International by 16.1% during the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock valued at $2,866,000 after purchasing an additional 137,906 shares during the last quarter. Geode Capital Management LLC grew its stake 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 valued at $1,111,000 after purchasing an additional 14,603 shares during the last quarter. Gabelli Funds LLC purchased a new stake in Mercer International during the 2nd quarter valued at about $1,804,000. Finally, Jump Financial LLC grew its stake in 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 during the last quarter. 85.79% of the stock is currently owned by hedge funds and other institutional investors.
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.
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