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 traded up $0.57 during trading hours on Friday, reaching $19.19. The stock had a trading volume of 473,953 shares, compared to its average volume of 508,923. The stock has a fifty day moving average price of $19.86. The company has a current ratio of 2.45, a quick ratio of 1.52 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $679.33 million, a P/E ratio of -1.05 and a beta of 1.66. Magnera Corp has a twelve month low of $15.80 and a twelve month high of $26.78.

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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 (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 last year, the business earned ($0.25) EPS.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Magnera during the fourth quarter worth $26,000. Shell Asset Management Co. bought a new stake in shares of Magnera during the fourth quarter worth $41,000. Vestcor Inc bought a new stake in shares of Magnera during the fourth quarter worth $46,000. State of Alaska Department of Revenue bought a new stake in shares of Magnera during the fourth quarter worth $48,000. Finally, KBC Group NV bought a new stake in shares of Magnera during the fourth quarter worth $51,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Magnera

In other news, CEO Curt Begle purchased 23,786 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the acquisition, the chief executive officer now directly owns 24,066 shares in the company, valued at approximately $507,311.28. The trade was a 8,495.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl J. Rickertsen purchased 20,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the acquisition, the director now 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. Company insiders own 2.26% of the company's stock.

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.

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.