Tocqueville Asset Management L.P. Takes Position in Magnera Corp (NYSE:MAGN)

Tocqueville Asset Management L.P. bought a new position in shares of Magnera Corp (NYSE:MAGN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 105,000 shares of the company's stock, valued at approximately $1,908,000. Tocqueville Asset Management L.P. owned 3.00% of Magnera as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of MAGN. Rhumbline Advisers bought a new position in Magnera during the 4th quarter worth $55,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Magnera in the fourth quarter valued at about $101,000. Ballentine Partners LLC bought a new position in Magnera during the fourth quarter worth about $295,000. State of Alaska Department of Revenue acquired a new stake in Magnera in the 4th quarter worth about $48,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in Magnera in the 4th quarter valued at about $427,000. Institutional investors own 76.92% of the company's stock.

Insider Buying and Selling at Magnera

In other news, Director Carl J. Rickertsen acquired 20,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were bought 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Curt Begle bought 23,786 shares of the stock in a transaction on Tuesday, February 11th. The stock was purchased at an average cost of $21.08 per share, with a total value of $501,408.88. Following the acquisition, the chief executive officer now owns 24,066 shares in the company, valued at approximately $507,311.28. This represents a 8,495.00 % 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.

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Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target 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. Vertical Research initiated coverage on Magnera in a report on Wednesday, March 19th. They issued a "hold" rating and a $21.00 price objective for the company.

Magnera Stock Performance

Shares of Magnera stock traded up $0.43 on Monday, reaching $19.03. 306,155 shares of the stock were exchanged, compared to its average volume of 487,985. The firm's 50 day simple moving average is $19.78. The stock has a market cap of $673.66 million, a price-to-earnings ratio of -1.04 and a beta of 1.66. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45. Magnera Corp has a one year low of $15.80 and a one year high of $26.78.

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

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.