Public Employees Retirement Association of Colorado Buys Shares of 3,166 Magnera Corp (NYSE:MAGN)

Public Employees Retirement Association of Colorado acquired a new stake in Magnera Corp (NYSE:MAGN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,166 shares of the company’s stock, valued at approximately $58,000. Public Employees Retirement Association of Colorado owned 0.09% of Magnera as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new position in Magnera in the 4th quarter valued at approximately $26,000. Vestcor Inc acquired a new position in Magnera during the 4th quarter worth $46,000. State of Alaska Department of Revenue purchased a new stake in Magnera during the 4th quarter worth about $48,000. KBC Group NV acquired a new stake in Magnera in the 4th quarter valued at about $51,000. Finally, National Bank of Canada FI purchased a new position in shares of Magnera in the 4th quarter valued at about $52,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

Magnera Trading Up 4.7 %

Shares of NYSE:MAGN opened at $15.26 on Friday. The business’s 50 day moving average is $17.11. Magnera Corp has a twelve month low of $13.07 and a twelve month high of $26.78. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80. The stock has a market cap of $540.20 million, a P/E ratio of -0.83 and a beta of 1.76.

Magnera (NYSE:MAGN) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share (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 period in the previous year, the business posted ($0.25) EPS.

Insider Activity at Magnera

In other Magnera news, Director Carl J. Rickertsen purchased 20,000 shares of Magnera stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $20.33 per share, with a total value 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Curt Begle acquired 23,786 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired 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 directly owns 24,066 shares of the company’s stock, valued at $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 owned by insiders.

Wall Street Analysts Forecast Growth

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

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.