Insider Buying: Mercer International Inc. (NASDAQ:MERC) CEO Purchases $51,480.00 in Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) CEO Estrada Juan Carlos Bueno purchased 7,800 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $6.60 per share, for a total transaction of $51,480.00. Following the acquisition, the chief executive officer now owns 67,615 shares of the company’s stock, valued at approximately $446,259. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Mercer International Price Performance

NASDAQ MERC opened at $6.39 on Thursday. Mercer International Inc. has a 1 year low of $5.33 and a 1 year high of $11.20. The business’s fifty day moving average is $6.83 and its two-hundred day moving average is $8.60. The stock has a market capitalization of $427.17 million, a P/E ratio of -1.85 and a beta of 1.34. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.17 and a current ratio of 3.46.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its earnings results on Thursday, August 8th. The basic materials company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.08). Mercer International had a negative return on equity of 17.93% and a negative net margin of 9.90%. The company had revenue of $499.40 million for the quarter, compared to analyst estimates of $482.35 million. During the same period last year, the firm earned ($1.48) earnings per share. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, research analysts forecast that Mercer International Inc. will post -1.15 earnings per share for the current fiscal year.

Mercer International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Wednesday, September 25th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Wednesday, September 25th. Mercer International’s dividend payout ratio is presently -8.75%.

Wall Street Analyst Weigh In

Several analysts have weighed in on MERC shares. StockNews.com downgraded Mercer International from a “hold” rating to a “sell” rating in a research note on Friday, September 13th. Royal Bank of Canada cut their price objective on shares of Mercer International from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Monday, August 12th. Finally, CIBC reduced their price objective on shares of Mercer International from $10.00 to $8.50 and set a “neutral” rating for the company in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in shares of Mercer International in the 1st quarter valued at approximately $193,000. Everence Capital Management Inc. purchased a new position in Mercer International during the 1st quarter worth approximately $261,000. Finally, SG Americas Securities LLC raised its stake in Mercer International by 26.5% during the 1st quarter. SG Americas Securities LLC now owns 51,201 shares of the basic materials company’s stock valued at $509,000 after purchasing an additional 10,713 shares during the period. 85.79% of the stock is currently owned by institutional investors and hedge funds.

About Mercer International

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.