Teacher Retirement System of Texas Takes Position in Magnera Corp (NYSE:MAGN)

Teacher Retirement System of Texas bought 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 & Exchange Commission. The firm bought 10,624 shares of the company’s stock, valued at approximately $193,000. Teacher Retirement System of Texas owned 0.30% of Magnera at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ballentine Partners LLC bought a new stake in Magnera during the fourth quarter worth $295,000. KBC Group NV bought a new position in shares of Magnera in the fourth quarter valued at approximately $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Magnera in the 4th quarter worth about $101,000. State of Alaska Department of Revenue purchased a new position in shares of Magnera in the 4th quarter worth about $48,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Magnera in the 4th quarter worth approximately $26,000. 76.92% of the stock is currently owned by institutional investors.

Magnera Price Performance

NYSE MAGN opened at $18.52 on Thursday. The business has a 50 day moving average price of $19.78. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80. Magnera Corp has a 1 year low of $15.80 and a 1 year high of $26.78. The stock has a market cap of $655.61 million, a PE ratio of -1.01 and a beta of 1.76.

Magnera (NYSE:MAGN) last posted its quarterly earnings data 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 period in the prior year, the business posted ($0.25) EPS.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Magnera news, CEO Curt Begle purchased 23,786 shares of the stock in a transaction on Tuesday, February 11th. The stock was 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 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carl J. Rickertsen acquired 20,000 shares of Magnera stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $20.33 per share, for a total transaction of $406,600.00. Following the completion of the transaction, the director now owns 21,306 shares in the company, valued at approximately $433,150.98. This trade represents a 1,531.39 % increase in their position. The disclosure for this purchase can be found here. 2.26% of the stock is owned by corporate insiders.

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.