Swiss National Bank Acquires New Position in Magnera Corp (NYSE:MAGN)

Swiss National Bank bought a new position in shares of Magnera Corp (NYSE:MAGN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 69,731 shares of the company’s stock, valued at approximately $1,267,000. Swiss National Bank owned 1.99% of Magnera as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MAGN. Charles Schwab Investment Management Inc. acquired a new stake in shares of Magnera during the fourth quarter worth $1,180,000. Carlson Capital L.P. bought a new position in Magnera during the fourth quarter worth about $954,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Magnera during the 4th quarter worth about $427,000. Bank of New York Mellon Corp bought a new stake in shares of Magnera in the 4th quarter valued at about $376,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Magnera in the 4th quarter valued at approximately $295,000. Institutional investors own 76.92% of the company’s stock.

Magnera Price Performance

Shares of Magnera stock opened at $18.33 on Friday. The company has a market capitalization of $648.88 million, a P/E ratio of -1.00 and a beta of 1.66. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80. The stock has a 50-day simple moving average of $19.75. Magnera Corp has a 1 year low of $15.80 and a 1 year high of $26.78.

Magnera (NYSE:MAGN) last posted its earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share (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 in the prior year, the firm earned ($0.25) EPS.

Insider Activity

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

Wall Street Analyst Weigh In

MAGN has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Vertical Research initiated coverage on shares of Magnera in a report on Wednesday, March 19th. They issued a “hold” rating and a $21.00 price target for the company.

Magnera Company 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.