Magnera Corp (NYSE:MAGN) Director Carl J. Rickertsen Buys 20,000 Shares

Magnera Corp (NYSE:MAGN) Director Carl J. Rickertsen acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $20.33 per share, for a total transaction of $406,600.00. Following 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Magnera Stock Up 1.6 %

MAGN stock opened at $20.61 on Friday. The stock has a market capitalization of $729.59 million, a P/E ratio of -1.12 and a beta of 1.67. Magnera Corp has a 12 month low of $15.80 and a 12 month high of $29.77. 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 released its earnings results on Thursday, February 6th. The company reported ($1.69) EPS 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 last year, the firm earned ($0.25) earnings per share.

Analysts Set New Price Targets

Separately, Wells Fargo & Company boosted 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.

Institutional Investors Weigh In On Magnera

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAGN. Wilmington Savings Fund Society FSB acquired a new position in Magnera in the fourth quarter valued at about $26,000. Shell Asset Management Co. acquired a new position in Magnera in the fourth quarter valued at approximately $41,000. Vestcor Inc acquired a new position in Magnera in the fourth quarter valued at approximately $46,000. State of Alaska Department of Revenue acquired a new stake in shares of Magnera in the fourth quarter valued at approximately $48,000. Finally, KBC Group NV acquired a new stake in shares of Magnera in the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

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.