Magnera (NYSE:MAGN) Stock Unloaded Rep. Thomas H. Kean, Jr.

Representative Thomas H. Kean, Jr. (R-New Jersey) recently sold shares of Magnera Corp NYSE: MAGN. In a filing disclosed on March 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in Magnera stock on February 12th. The trade occurred in the Representative's "KEAN FAMILY PARTNERSHIP" account.

Representative Thomas H. Kean, Jr. also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 2/26/2025.
• Sold $15,001 - $50,000 in shares of Stryker NYSE: SYK on 2/26/2025.
• Purchased $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 1/31/2025.
• Purchased $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 1/16/2025.
• Purchased $1,001 - $15,000 in shares of Crown NYSE: CCK on 1/7/2025.
• Purchased $1,001 - $15,000 in shares of Canadian Pacific Kansas City NYSE: CP on 12/27/2024.
• Purchased $1,001 - $15,000 in shares of Pernod Ricard OTC: PRNDY on 12/27/2024.
• Sold $1,001 - $15,000 in shares of Alphabet NASDAQ: GOOG on 12/19/2024.
• Sold $1,001 - $15,000 in shares of Franklin Resources NYSE: BEN on 12/16/2024.
• Purchased $1,001 - $15,000 in shares of Prologis NYSE: PLD on 12/16/2024.

Magnera Price Performance

Shares of NYSE:MAGN opened at $19.19 on Friday. Magnera Corp has a 1 year low of $15.80 and a 1 year 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. The company has a 50-day simple moving average of $19.88. The firm has a market cap of $679.33 million, a P/E ratio of -1.05 and a beta of 1.66.

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Magnera (NYSE:MAGN - Get Free Report) last posted its quarterly earnings results 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 prior year, the firm earned ($0.25) EPS.

Insiders Place Their Bets

In related news, CEO Curt Begle purchased 23,786 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was acquired at an average cost of $21.08 per share, with a total value of $501,408.88. Following the transaction, the chief executive officer now owns 24,066 shares of the company's stock, valued at $507,311.28. This represents a 8,495.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carl J. Rickertsen acquired 20,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were purchased 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 directly owns 21,306 shares in the company, valued at approximately $433,150.98. The trade was a 1,531.39 % 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.

Institutional Trading of Magnera

Large investors have recently made changes to their positions in the company. Madison Avenue Partners LP bought a new position in Magnera in the fourth quarter worth approximately $61,892,000. Vanguard Group Inc. bought a new position in shares of Magnera in the 4th quarter worth $52,408,000. Engine Capital Management LP bought a new position in shares of Magnera in the 4th quarter worth $42,851,000. Ancora Advisors LLC acquired a new stake in Magnera in the 4th quarter valued at $30,047,000. Finally, Littlejohn & Co. LLC bought a new stake in Magnera during the 4th quarter valued at $25,591,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

About Representative Kean

Thomas Kean Jr. (Republican Party) is a member of the U.S. House, representing New Jersey's 7th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2027. Kean (Republican Party) is running for re-election to the U.S. House to represent New Jersey's 7th Congressional District. He declared candidacy for the 2026 election. Thomas Kean Jr. lives in Westfield, New Jersey. Kean earned a master’s degree from the Tufts University Fletcher School of Law and Diplomacy. His career experience includes working with the Environmental Protection Agency during the George H.W. Bush administration and as an advisor to former U.S. Representative Bob Franks, a firefighter, and an emergency medical technician. Kean has served as the vice president of a fire department.

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.

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