Mondi (LON:MNDI) Shares Down 7.2% - Here's Why

Shares of Mondi plc (LON:MNDI - Get Free Report) dropped 7.2% on Thursday . The company traded as low as GBX 1,279.50 ($16.71) and last traded at GBX 1,290 ($16.85). Approximately 105,906,188 shares traded hands during trading, an increase of 4,503% from the average daily volume of 2,300,665 shares. The stock had previously closed at GBX 1,390 ($18.15).

Mondi Trading Down 6.5 %

The stock has a market cap of £5.73 billion, a price-to-earnings ratio of 1,756.08, a P/E/G ratio of 0.76 and a beta of 0.68. The company has a debt-to-equity ratio of 37.41, a current ratio of 2.07 and a quick ratio of 1.14. The company's fifty day moving average price is GBX 1,438.30 and its 200-day moving average price is GBX 1,484.80.

Mondi Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, August 22nd were issued a €0.23 ($0.25) dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a dividend yield of 1.29%. Mondi's dividend payout ratio is currently 8,108.11%.

Insider Activity

In related news, insider Andrew King acquired 22 shares of the company's stock in a transaction dated Monday, October 7th. The shares were purchased at an average cost of GBX 1,425 ($18.61) per share, with a total value of £313.50 ($409.38). Insiders have purchased 54 shares of company stock valued at $77,818 over the last ninety days. 1.36% of the stock is currently owned by insiders.

Mondi Company Profile

Mondi plc, together with its subsidiaries, engages in the manufacture and sale of packaging and paper solutions in Africa, Western Europe, Emerging Europe, North America, South America, Asia, Australia, and internationally. The company operates in three segments: Corrugated Packaging, Flexible Packaging, and Uncoated Fine Paper.