Rep. Thomas H. Kean, Jr. Sells Magnera Corp (NYSE:MAGN) Shares

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 Trading Up 3.1 %

MAGN stock traded up $0.57 during trading hours on Friday, hitting $19.19. 473,953 shares of the stock were exchanged, compared to its average volume of 508,923. The firm has a 50-day moving average price of $19.88. The firm has a market cap of $679.33 million, a price-to-earnings ratio of -1.05 and a beta of 1.66. Magnera Corp has a 12 month low of $15.80 and a 12 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.

Remove Ads

Magnera (NYSE:MAGN - Get Free Report) last announced its 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 quarter last year, the business posted ($0.25) EPS.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Madison Avenue Partners LP purchased a new stake in shares of Magnera during the 4th quarter valued at $61,892,000. Vanguard Group Inc. purchased a new position in shares of Magnera in the fourth quarter worth about $52,408,000. Engine Capital Management LP bought a new stake in shares of Magnera in the fourth quarter valued at approximately $42,851,000. Ancora Advisors LLC purchased a new stake in shares of Magnera during the 4th quarter valued at approximately $30,047,000. Finally, Littlejohn & Co. LLC bought a new position in Magnera in the 4th quarter worth approximately $25,591,000. Hedge funds and other institutional investors own 76.92% of the company's stock.

Insider Activity at Magnera

In related news, CEO Curt Begle acquired 23,786 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was purchased at an average price 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 $507,311.28. This trade represents a 8,495.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl J. Rickertsen bought 20,000 shares of the business's stock in a transaction that occurred 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 purchase, the director now directly owns 21,306 shares of the company's stock, valued at $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. 2.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Wells Fargo & Company boosted their target price on shares of Magnera from $22.00 to $24.00 and gave the company an "overweight" rating in a research report 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.