Carlson Capital L.P. Makes New $954,000 Investment in Magnera Corp (NYSE:MAGN)

Carlson Capital L.P. acquired a new position in shares of Magnera Corp (NYSE:MAGN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 52,530 shares of the company’s stock, valued at approximately $954,000. Magnera comprises approximately 0.6% of Carlson Capital L.P.’s holdings, making the stock its 13th largest holding. Carlson Capital L.P. owned 1.50% of Magnera at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Magnera during the fourth quarter worth $26,000. State of Alaska Department of Revenue acquired a new position in shares of Magnera in the 4th quarter valued at $48,000. KBC Group NV acquired a new position in shares of Magnera in the 4th quarter valued at $51,000. Rhumbline Advisers acquired a new position in shares of Magnera in the 4th quarter valued at $55,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Magnera in the 4th quarter valued at $101,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

Magnera Stock Up 0.8 %

Shares of Magnera stock opened at $20.53 on Thursday. Magnera Corp has a 52 week low of $15.80 and a 52 week high of $29.77. The firm has a market capitalization of $726.76 million, a PE ratio of -1.12 and a beta of 1.67. 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 (NYSE:MAGN) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) 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 last year, the business posted ($0.25) earnings per share.

Analyst Upgrades and Downgrades

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

Insider Activity at Magnera

In other news, CEO Curt Begle acquired 23,786 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were purchased at an average price 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 of the company’s stock, valued at $507,311.28. This represents a 8,495.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.