54,749 Shares in Magnera Corp (NYSE:MAGN) Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership purchased a new stake in Magnera Corp (NYSE:MAGN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 54,749 shares of the company’s stock, valued at approximately $995,000. Arrowstreet Capital Limited Partnership owned 1.56% of Magnera at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MAGN. Norges Bank bought a new stake in Magnera in the fourth quarter valued at about $1,763,000. Loomis Sayles & Co. L P acquired a new position in shares of Magnera in the 4th quarter worth approximately $10,969,000. JPMorgan Chase & Co. bought a new position in shares of Magnera during the 4th quarter worth approximately $1,629,000. Vanguard Group Inc. acquired a new stake in Magnera in the 4th quarter valued at $52,408,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Magnera in the fourth quarter valued at $115,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

Magnera Trading Down 0.1 %

Shares of NYSE:MAGN opened at $15.08 on Friday. The stock’s 50-day moving average price is $19.20. The company has a market cap of $533.83 million, a PE ratio of -0.82 and a beta of 1.76. Magnera Corp has a 1-year low of $13.11 and a 1-year high of $26.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52.

Magnera (NYSE:MAGN) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) EPS for the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. During the same period last year, the firm earned ($0.25) EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Vertical Research started coverage on shares of Magnera in a research note on Wednesday, March 19th. They issued a “hold” rating and a $21.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 7th.

Insider Activity

In other Magnera news, CEO Curt Begle acquired 23,786 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were acquired at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the acquisition, the chief executive officer now directly owns 24,066 shares of the company’s stock, valued at approximately $507,311.28. This trade represents a 8,495.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carl J. Rickertsen purchased 20,000 shares of Magnera stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $20.33 per share, with a total value of $406,600.00. Following the acquisition, the director now directly owns 21,306 shares of the company’s stock, valued at approximately $433,150.98. This trade represents a 1,531.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.26% of the stock is currently owned by company insiders.

About Magnera

Magnera’s purpose is to better the world with new possibilities made real. By continuously co-creating and innovating with our partners, we develop original material solutions that make a brighter future possible. With a breadth of technologies and a passion for what we create, Magnera’s solutions propel our customers’ goals forward and solve end-users’ problems, every day.