603,687 Shares in Magnera Corp (NYSE:MAGN) Purchased by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P purchased a new stake in shares of Magnera Corp (NYSE:MAGN) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 603,687 shares of the company’s stock, valued at approximately $10,969,000. Loomis Sayles & Co. L P owned 17.25% of Magnera as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. bought a new stake in Magnera during the fourth quarter valued at $52,408,000. Tocqueville Asset Management L.P. purchased a new stake in shares of Magnera in the 4th quarter valued at about $1,908,000. JPMorgan Chase & Co. bought a new stake in shares of Magnera during the 4th quarter valued at about $1,629,000. Swiss National Bank purchased a new position in shares of Magnera during the fourth quarter worth about $1,267,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Magnera in the fourth quarter worth approximately $1,180,000. 76.92% of the stock is currently owned by institutional investors.

Magnera Trading Down 3.6 %

Shares of NYSE MAGN opened at $18.33 on Friday. The stock has a market cap of $648.88 million, a PE ratio of -1.00 and a beta of 1.66. The firm’s 50-day moving average price is $19.75. The company has a current ratio of 2.45, a quick ratio of 1.52 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.

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

Analysts Set New Price Targets

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

Insider Buying and Selling at Magnera

In other news, Director Carl J. Rickertsen purchased 20,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $20.33 per share, for a total transaction of $406,600.00. Following the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Curt Begle purchased 23,786 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was purchased at an average cost of $21.08 per share, for a total transaction of $501,408.88. Following the acquisition, the chief executive officer now owns 24,066 shares in the company, valued at approximately $507,311.28. The trade was a 8,495.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.26% of the company’s stock.

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.