13,204 Shares in Magnera Corp (NYSE:MAGN) Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans purchased a new position in Magnera Corp (NYSE:MAGN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,204 shares of the company’s stock, valued at approximately $240,000. Thrivent Financial for Lutherans owned 0.38% of Magnera at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new stake in Magnera during the 4th quarter valued at $26,000. Vestcor Inc purchased a new position in shares of Magnera in the fourth quarter valued at about $46,000. State of Alaska Department of Revenue bought a new position in shares of Magnera during the fourth quarter valued at about $48,000. KBC Group NV purchased a new stake in shares of Magnera during the fourth quarter worth about $51,000. Finally, Rhumbline Advisers bought a new stake in shares of Magnera in the fourth quarter worth about $55,000. Institutional investors own 76.92% of the company’s stock.

Magnera Trading Down 12.2 %

Shares of MAGN opened at $14.99 on Friday. Magnera Corp has a 1-year low of $14.90 and a 1-year high of $26.78. The company has a market cap of $530.65 million, a price-to-earnings ratio of -0.82 and a beta of 1.76. The company’s 50-day moving average is $19.72. 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 posted its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share 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 firm earned ($0.25) EPS.

Insider Buying and Selling

In other Magnera news, Director Carl J. Rickertsen bought 20,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the acquisition, the director now owns 21,306 shares in the company, valued at approximately $433,150.98. This represents a 1,531.39 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Curt Begle purchased 23,786 shares of the firm’s stock in a transaction that occurred 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 completion of the purchase, 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 disclosure for this purchase can be found here. 2.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on MAGN. Vertical Research started coverage on Magnera in a research report on Wednesday, March 19th. They set a “hold” rating and a $21.00 price target for the company. Wells Fargo & Company upped their target price on Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 7th.

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.