Russell Investments Group Ltd. Buys Shares of 148,711 Magnera Corp (NYSE:MAGN)

Russell Investments Group Ltd. bought a new position in Magnera Corp (NYSE:MAGN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 148,711 shares of the company's stock, valued at approximately $2,702,000. Russell Investments Group Ltd. owned 4.25% of Magnera at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Rhumbline Advisers bought a new position in Magnera in the fourth quarter worth $55,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Magnera during the 4th quarter valued at about $101,000. Swiss National Bank bought a new stake in Magnera during the fourth quarter worth about $1,267,000. Ballentine Partners LLC bought a new stake in Magnera during the fourth quarter worth about $295,000. Finally, Bank of New York Mellon Corp purchased a new stake in Magnera in the fourth quarter worth about $376,000. Institutional investors own 76.92% of the company's stock.

Analyst Ratings Changes

MAGN has been the topic of a number of analyst reports. Vertical Research began coverage on Magnera in a research report on Wednesday, March 19th. They issued a "hold" rating and a $21.00 price target on the stock. Wells Fargo & Company boosted 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.

Magnera Trading Up 8.0 %

NYSE:MAGN traded up $1.09 on Wednesday, reaching $14.68. 340,832 shares of the stock traded hands, compared to its average volume of 495,724. 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 firm has a market capitalization of $519.67 million, a P/E ratio of -0.80 and a beta of 1.76. Magnera Corp has a 12 month low of $13.07 and a 12 month high of $26.78. The stock's fifty day moving average is $18.28.

Magnera (NYSE:MAGN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share for the quarter. Magnera had a negative net margin of 6.97% and a negative return on equity of 10.62%. During the same quarter in the prior year, the company posted ($0.25) EPS.

Insiders Place Their Bets

In related news, Director Carl J. Rickertsen purchased 20,000 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $20.33 per share, with a total value of $406,600.00. Following the acquisition, the director now directly owns 21,306 shares in the company, valued at $433,150.98. The trade was a 1,531.39 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Curt Begle purchased 23,786 shares of Magnera stock in a transaction dated Tuesday, February 11th. The stock was bought 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 directly owns 24,066 shares of the company's stock, 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.

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.