Charles Schwab Investment Management Inc. Buys Shares of 64,921 Magnera Corp (NYSE:MAGN)

Charles Schwab Investment Management Inc. bought a new position in Magnera Corp (NYSE:MAGN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 64,921 shares of the company’s stock, valued at approximately $1,180,000. Charles Schwab Investment Management Inc. owned about 1.85% of Magnera at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MAGN. Oppenheimer Asset Management Inc. bought a new stake in shares of Magnera during the fourth quarter valued at about $427,000. Carlson Capital L.P. acquired a new position in Magnera during the 4th quarter valued at about $954,000. Illinois Municipal Retirement Fund bought a new stake in shares of Magnera during the 4th quarter worth about $216,000. Bank of New York Mellon Corp acquired a new stake in shares of Magnera in the 4th quarter worth approximately $376,000. Finally, South Dakota Investment Council bought a new position in shares of Magnera in the fourth quarter valued at approximately $172,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

Magnera Stock Down 3.6 %

Shares of Magnera stock opened at $18.33 on Monday. Magnera Corp has a 12-month low of $15.80 and a 12-month high of $26.78. The firm has a market capitalization of $648.88 million, a price-to-earnings 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’s fifty day moving average is $19.75.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MAGN shares. Wells Fargo & Company upped their price target 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 began coverage on shares of Magnera in a report on Wednesday, March 19th. They set a “hold” rating and a $21.00 target price for the company.

Insider Activity at Magnera

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