Swiss National Bank Makes New Investment in Magnera Corp (NYSE:MAGN)

Swiss National Bank purchased a new stake in shares of Magnera Corp (NYSE:MAGN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 69,731 shares of the company's stock, valued at approximately $1,267,000. Swiss National Bank owned about 1.99% of Magnera at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MAGN. Charles Schwab Investment Management Inc. purchased a new position in Magnera in the fourth quarter valued at about $1,180,000. Carlson Capital L.P. bought a new stake in shares of Magnera in the 4th quarter worth approximately $954,000. Oppenheimer Asset Management Inc. purchased a new position in Magnera in the fourth quarter valued at approximately $427,000. Bank of New York Mellon Corp bought a new position in Magnera during the fourth quarter valued at $376,000. Finally, Ballentine Partners LLC purchased a new stake in Magnera in the fourth quarter worth $295,000. 76.92% of the stock is currently owned by institutional investors.

Insider Transactions at Magnera

In other news, Director Carl J. Rickertsen purchased 20,000 shares of the firm'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 completion of the acquisition, the director now owns 21,306 shares in the company, valued at $433,150.98. This trade represents a 1,531.39 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Curt Begle acquired 23,786 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was acquired at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the transaction, the chief executive officer now directly 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 disclosure for this purchase can be found here. Insiders own 2.26% of the company's stock.

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Magnera Stock Performance

MAGN stock traded up $0.35 during midday trading on Wednesday, reaching $18.52. 266,704 shares of the company's stock traded hands, compared to its average volume of 471,743. The stock has a market capitalization of $655.61 million, a price-to-earnings ratio of -1.01 and a beta of 1.76. The firm has a 50-day moving average price of $19.78. Magnera Corp has a 52 week low of $15.80 and a 52 week 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.

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

MAGN has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on Magnera from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Vertical Research started coverage on shares of Magnera in a report on Wednesday, March 19th. They set a "hold" rating and a $21.00 price objective on the stock.

Magnera 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.