Rhumbline Advisers Makes New Investment in Magnera Corp (NYSE:MAGN)

Rhumbline Advisers bought a new position in shares of Magnera Corp (NYSE:MAGN) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 3,048 shares of the company’s stock, valued at approximately $55,000. Rhumbline Advisers owned 0.09% of Magnera as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in Magnera during the 4th quarter worth approximately $26,000. State of Alaska Department of Revenue acquired a new stake in shares of Magnera in the fourth quarter valued at approximately $48,000. KBC Group NV acquired a new stake in shares of Magnera in the fourth quarter valued at approximately $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Magnera in the fourth quarter valued at approximately $101,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Magnera in the fourth quarter valued at approximately $295,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Magnera Trading Up 3.1 %

NYSE MAGN opened at $19.85 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45. Magnera Corp has a 12-month low of $15.80 and a 12-month high of $26.78. The company has a market capitalization of $702.69 million, a PE ratio of -1.08 and a beta of 1.66.

Magnera (NYSE:MAGN) last released its earnings results 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 quarter in the prior year, the firm earned ($0.25) earnings per share.

Insider Activity at Magnera

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

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lifted 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.

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.