Carlson Capital L.P. Purchases Shares of 52,530 Magnera Corp (NYSE:MAGN)

Carlson Capital L.P. purchased a new position in shares of Magnera Corp (NYSE:MAGN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 52,530 shares of the company's stock, valued at approximately $954,000. Magnera comprises about 0.6% of Carlson Capital L.P.'s portfolio, making the stock its 13th largest position. Carlson Capital L.P. owned approximately 1.50% of Magnera at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in shares of Magnera during the fourth quarter worth about $376,000. Ballentine Partners LLC acquired a new stake in shares of Magnera during the fourth quarter worth about $295,000. Illinois Municipal Retirement Fund acquired a new stake in shares of Magnera during the fourth quarter worth about $216,000. South Dakota Investment Council acquired a new stake in shares of Magnera during the fourth quarter worth about $172,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Magnera during the fourth quarter worth about $101,000. Hedge funds and other institutional investors own 76.92% of the company's stock.

Magnera Trading Up 1.6 %

NYSE:MAGN traded up $0.33 during trading hours on Friday, reaching $20.61. The company had a trading volume of 624,258 shares, compared to its average volume of 522,581. Magnera Corp has a 1-year low of $15.80 and a 1-year high of $29.77. The company has a market capitalization of $729.59 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.

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Magnera (NYSE:MAGN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share (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 company earned ($0.25) earnings per share.

Insider Transactions at Magnera

In other Magnera news, Director Carl J. Rickertsen bought 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 purchase, the director now directly owns 21,306 shares in the company, valued at $433,150.98. This represents a 1,531.39 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Curt Begle bought 23,786 shares of Magnera stock in a transaction dated Tuesday, February 11th. The shares were acquired at an average cost of $21.08 per share, with a total value of $501,408.88. Following the completion of the purchase, the chief executive officer now owns 24,066 shares in the company, valued at approximately $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. Corporate insiders own 2.26% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lifted their target price on Magnera from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, February 7th.

About Magnera

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.