Mondi (LON:MNDI) insider Stephen G. Young bought 2,026 shares of the firm’s stock in a transaction on Wednesday, May 16th. The stock was bought at an average cost of GBX 2,072 ($28.11) per share, for a total transaction of £41,978.72 ($56,943.46).
Shares of MNDI traded up GBX 2 ($0.03) during mid-day trading on Thursday, hitting GBX 2,065 ($28.01). 1,445,644 shares of the company’s stock were exchanged, compared to its average volume of 1,880,000. Mondi has a fifty-two week low of GBX 1,684 ($22.84) and a fifty-two week high of GBX 2,145 ($29.10).
The firm also recently declared a dividend, which will be paid on Friday, May 25th. Stockholders of record on Thursday, May 3rd will be given a dividend of €1.43 ($1.70) per share. This represents a dividend yield of 6.47%. The ex-dividend date is Thursday, May 3rd. This is a boost from Mondi’s previous dividend of $0.19.
MNDI has been the topic of several research reports. Goldman Sachs cut shares of Mondi to a “neutral” rating in a research report on Thursday. Deutsche Bank increased their price target on shares of Mondi from GBX 2,300 ($31.20) to GBX 2,400 ($32.56) and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase reissued an “overweight” rating and set a GBX 2,310 ($31.33) price target (up previously from GBX 2,200 ($29.84)) on shares of Mondi in a research report on Tuesday, March 13th. Citigroup reissued a “buy” rating and set a GBX 2,450 ($33.23) price target on shares of Mondi in a research report on Monday, March 5th. Finally, Jefferies Group reissued a “buy” rating and set a GBX 2,300 ($31.20) price target on shares of Mondi in a research report on Tuesday, March 6th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of GBX 2,334.17 ($31.66).
Mondi plc manufactures and sells packaging and paper products primarily in central Europe, Russia, North America, and South Africa. Its products include virgin and recycled containerboards, sack and specialty kraft papers, pulp, corrugated packaging products, industrial bags, extrusion coatings, films and hygiene components, release liners, consumer goods packaging products, office and professional printing papers, and barrier coatings, as well as pre-made bags and pouches, printed laminates, and high-barrier films for the consumer industry.
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