Public Employees Retirement System of Ohio Makes New $673,000 Investment in Magnera Corporation $MAGN

Public Employees Retirement System of Ohio bought a new position in shares of Magnera Corporation (NYSE:MAGN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 57,275 shares of the company’s stock, valued at approximately $673,000.

Several other institutional investors and hedge funds have also modified their holdings of MAGN. Quadrant Capital Group LLC increased its position in Magnera by 702.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock worth $28,000 after acquiring an additional 1,630 shares during the period. Quarry LP acquired a new position in shares of Magnera during the 4th quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Magnera by 106.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock worth $30,000 after purchasing an additional 1,021 shares during the period. BNP Paribas Financial Markets raised its position in shares of Magnera by 92.7% in the second quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock valued at $37,000 after buying an additional 1,492 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Magnera in the third quarter valued at approximately $99,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MAGN shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Magnera in a research report on Thursday, August 27th. Wall Street Zen raised Magnera from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Wells Fargo & Company raised their price target on Magnera from $13.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $16.00.

Magnera Stock Down 2.6%

Shares of MAGN opened at $11.62 on Thursday. The firm has a 50 day simple moving average of $12.82 and a two-hundred day simple moving average of $11.67. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.45 and a quick ratio of 1.57. Magnera Corporation has a one year low of $7.82 and a one year high of $15.52. The company has a market cap of $415.82 million, a P/E ratio of -5.78 and a beta of 1.73.

Magnera (NYSE:MAGN) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.56) earnings per share (EPS) for the quarter. Magnera had a negative net margin of 3.41% and a negative return on equity of 10.77%. The business had revenue of $857.00 million during the quarter.

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.