30,252 Shares in Magnera Corp (NYSE:MAGN) Purchased by California State Teachers Retirement System

California State Teachers Retirement System acquired a new position in shares of Magnera Corp (NYSE:MAGN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,252 shares of the company’s stock, valued at approximately $550,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE acquired a new position in Magnera during the fourth quarter worth about $5,492,000. Rhumbline Advisers acquired a new position in Magnera during the fourth quarter worth about $55,000. Man Group plc acquired a new position in Magnera during the fourth quarter worth about $862,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Magnera during the fourth quarter worth about $101,000. Finally, Swiss National Bank acquired a new position in Magnera during the fourth quarter worth about $1,267,000. Institutional investors own 76.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on MAGN shares. Vertical Research started coverage on Magnera in a research note on Wednesday, March 19th. They set a “hold” rating and a $21.00 target price for the company. Wells Fargo & Company downgraded Magnera from an “overweight” rating to a “reduce” rating in a research note on Wednesday, May 14th.

Magnera Price Performance

Magnera stock opened at $14.18 on Thursday. The firm has a 50 day moving average price of $13.78. Magnera Corp has a 1 year low of $11.43 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. The firm has a market capitalization of $504.81 million, a P/E ratio of -0.77 and a beta of 1.66.

Magnera (NYSE:MAGN) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($1.35). Magnera had a negative net margin of 6.97% and a negative return on equity of 10.62%. The firm had revenue of $824.00 million during the quarter. Magnera’s quarterly revenue was up 47.7% on a year-over-year basis.

Insider Activity

In other news, Director Bruce Brown acquired 16,940 shares of the stock in a transaction dated Thursday, May 29th. The stock was bought at an average price of $11.81 per share, with a total value of $200,061.40. Following the completion of the purchase, the director now directly owns 17,228 shares of the company’s stock, valued at $203,462.68. This represents a 5,881.94% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Michael Fogarty bought 20,000 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $15.15 per share, with a total value of $303,000.00. Following the transaction, the director now directly owns 31,538 shares in the company, valued at approximately $477,800.70. This trade represents a 173.34% increase in their position. The disclosure for this purchase can be found here. Insiders bought 94,215 shares of company stock valued at $1,263,094 over the last quarter. 2.26% of the stock is owned by company insiders.

Magnera Profile

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.