Mercer International Inc. (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) major shareholder Peter Kellogg purchased 34,733 shares of Mercer International stock in a transaction dated Monday, June 8th. The stock was bought at an average cost of $0.80 per share, for a total transaction of $27,786.40. Following the completion of the purchase, the insider directly owned 1,138,594 shares in the company, valued at approximately $910,875.20. This trade represents a 3.15% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Mercer International Trading Down 4.2%
Shares of NASDAQ:MERC traded down $0.03 during mid-day trading on Wednesday, reaching $0.65. 1,761,087 shares of the company were exchanged, compared to its average volume of 599,197. Mercer International Inc. has a 1 year low of $0.58 and a 1 year high of $4.47. The company has a debt-to-equity ratio of 23.58, a current ratio of 2.17 and a quick ratio of 1.22. The firm’s 50-day simple moving average is $0.89 and its 200 day simple moving average is $1.48. The firm has a market cap of $43.37 million, a price-to-earnings ratio of -0.08 and a beta of 0.52.
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 analysts’ consensus estimates of ($0.74) by ($0.04). Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%.The firm had revenue of $489.30 million for the quarter, compared to analyst estimates of $493.00 million. Equities research analysts forecast that Mercer International Inc. will post -2.21 EPS for the current year.
Analysts Set New Price Targets
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Institutional Investors Weigh In On Mercer International
Large investors have recently bought and sold shares of the stock. Jump Financial LLC raised its position in Mercer International by 340.6% in 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 in the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Mercer International during the second quarter worth about $244,000. Gabelli Funds LLC acquired a new position in shares of Mercer International during the second quarter worth about $1,804,000. Millennium Management LLC increased its stake 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 buying an additional 137,906 shares during the period. Finally, Geode Capital Management LLC increased its stake 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 worth $1,111,000 after buying an additional 14,603 shares during the period. Hedge funds and other institutional investors own 85.79% of the company’s stock.
About Mercer International
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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