Charles Schwab Investment Management Inc. Takes Position in Magnera Corp (NYSE:MAGN)

Charles Schwab Investment Management Inc. purchased a new stake in shares of Magnera Corp (NYSE:MAGN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 64,921 shares of the company's stock, valued at approximately $1,180,000. Charles Schwab Investment Management Inc. owned approximately 1.85% of Magnera at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Carlson Capital L.P. bought a new position in Magnera in the 4th quarter valued at $954,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Magnera in the 4th quarter worth about $427,000. Bank of New York Mellon Corp bought a new position in Magnera during the fourth quarter valued at about $376,000. Ballentine Partners LLC purchased a new stake in Magnera during the fourth quarter worth about $295,000. Finally, Illinois Municipal Retirement Fund bought a new stake in Magnera in the fourth quarter worth about $216,000. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Magnera

In related news, CEO Curt Begle bought 23,786 shares of the stock in a transaction that occurred on 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 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carl J. Rickertsen purchased 20,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $20.33 per share, with a total value of $406,600.00. Following the purchase, the director now owns 21,306 shares in the company, valued at approximately $433,150.98. This represents a 1,531.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.26% of the company's stock.

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Magnera Stock Performance

NYSE MAGN traded down $1.51 during trading on Thursday, hitting $17.02. 1,048,803 shares of the company's stock traded hands, compared to its average volume of 480,903. The business's 50 day simple moving average is $19.78. Magnera Corp has a 12-month low of $15.80 and a 12-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 capitalization of $602.51 million, a PE ratio of -0.93 and a beta of 1.76.

Magnera (NYSE:MAGN - Get Free Report) 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 firm posted ($0.25) EPS.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MAGN. 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 price target for the company. 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 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.