Rep. Thomas H. Kean, Jr. Sells Off Shares of Magnera Corp (NYSE:MAGN)

Representative Thomas H. Kean, Jr. (R-New Jersey) recently sold shares of Magnera Corp (NYSE:MAGN). In a filing disclosed on March 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in Magnera stock on February 12th. The trade occurred in the Representative’s “KEAN FAMILY PARTNERSHIP” account.

Representative Thomas H. Kean, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 2/26/2025.
• Sold $15,001 – $50,000 in shares of Stryker (NYSE:SYK) on 2/26/2025.
• Purchased $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 1/16/2025.
• Purchased $1,001 – $15,000 in shares of Crown (NYSE:CCK) on 1/7/2025.
• Purchased $1,001 – $15,000 in shares of Canadian Pacific Kansas City (NYSE:CP) on 12/27/2024.
• Purchased $1,001 – $15,000 in shares of Pernod Ricard (OTC:PRNDY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOG) on 12/19/2024.
• Sold $1,001 – $15,000 in shares of Franklin Resources (NYSE:BEN) on 12/16/2024.
• Purchased $1,001 – $15,000 in shares of Prologis (NYSE:PLD) on 12/16/2024.

Magnera Trading Up 3.1 %

Shares of MAGN opened at $19.19 on Monday. The company’s 50-day moving average is $19.86. The company has a market cap of $679.33 million, a price-to-earnings ratio of -1.05 and a beta of 1.66. 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 Corp has a 1-year low of $15.80 and a 1-year high of $26.78.

Magnera (NYSE:MAGN) last announced 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 business posted ($0.25) EPS.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lifted their price target on shares of Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 7th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MAGN. Madison Avenue Partners LP purchased a new position in Magnera in the fourth quarter worth about $61,892,000. Vanguard Group Inc. bought a new stake in Magnera during the fourth quarter valued at approximately $52,408,000. Engine Capital Management LP bought a new stake in Magnera during the fourth quarter valued at approximately $42,851,000. Ancora Advisors LLC bought a new stake in Magnera during the fourth quarter valued at approximately $30,047,000. Finally, Littlejohn & Co. LLC bought a new stake in Magnera during the fourth quarter valued at approximately $25,591,000. 76.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Magnera

In other news, Director Carl J. Rickertsen purchased 20,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was acquired 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 directly owns 21,306 shares in the company, valued at $433,150.98. This trade represents a 1,531.39 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Curt Begle purchased 23,786 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $507,311.28. This trade 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 currently owned by company insiders.

About Representative Kean

Thomas Kean Jr. (Republican Party) is a member of the U.S. House, representing New Jersey’s 7th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2027.

Kean (Republican Party) is running for re-election to the U.S. House to represent New Jersey’s 7th Congressional District. He declared candidacy for the 2026 election.

Thomas Kean Jr. lives in Westfield, New Jersey. Kean earned a master’s degree from the Tufts University Fletcher School of Law and Diplomacy. His career experience includes working with the Environmental Protection Agency during the George H.W. Bush administration and as an advisor to former U.S. Representative Bob Franks, a firefighter, and an emergency medical technician. Kean has served as the vice president of a fire department.

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.