603,687 Shares in Magnera Corp (NYSE:MAGN) Purchased by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P acquired a new stake in shares of Magnera Corp (NYSE:MAGN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 603,687 shares of the company's stock, valued at approximately $10,969,000. Loomis Sayles & Co. L P owned approximately 17.25% of Magnera at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Magnera during the 4th quarter valued at $26,000. Vestcor Inc purchased a new stake in Magnera in the fourth quarter valued at about $46,000. State of Alaska Department of Revenue acquired a new stake in Magnera in the fourth quarter worth about $48,000. KBC Group NV purchased a new stake in shares of Magnera during the fourth quarter worth about $51,000. Finally, Rhumbline Advisers purchased a new stake in Magnera during the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 76.92% of the company's stock.

Magnera Stock Down 7.2 %

Shares of NYSE:MAGN traded down $1.33 during midday trading on Thursday, reaching $17.20. The company's stock had a trading volume of 230,794 shares, compared to its average volume of 467,515. The firm has a market capitalization of $608.88 million, a price-to-earnings ratio of -0.94 and a beta of 1.76. The firm has a fifty day moving average price of $19.78. Magnera Corp has a twelve month low of $15.80 and a twelve month high of $26.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52.

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Magnera (NYSE:MAGN - Get Free Report) last released its quarterly earnings data 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 period in the previous year, the business posted ($0.25) EPS.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Magnera

In other Magnera news, CEO Curt Begle purchased 23,786 shares of Magnera stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average price of $21.08 per share, with a total value 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 trade represents a 8,495.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carl J. Rickertsen acquired 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 acquisition, the director now owns 21,306 shares of the company's stock, valued at $433,150.98. This trade represents a 1,531.39 % increase in their position. The disclosure for this purchase can be found here. 2.26% of the stock is currently owned by corporate insiders.

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.