Charles Schwab Investment Management Inc. Takes Position in Magnera Corp (NYSE:MAGN)

Charles Schwab Investment Management Inc. acquired a new position in Magnera Corp (NYSE:MAGN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 64,921 shares of the company’s stock, valued at approximately $1,180,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MAGN. Wilmington Savings Fund Society FSB acquired a new position in Magnera in the 4th quarter valued at approximately $26,000. State of Alaska Department of Revenue bought a new stake in shares of Magnera during the fourth quarter valued at approximately $48,000. KBC Group NV acquired a new position in shares of Magnera in the fourth quarter valued at $51,000. Rhumbline Advisers bought a new position in Magnera in the fourth quarter worth $55,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Magnera in the fourth quarter worth $101,000. Institutional investors own 76.92% of the company’s stock.

Magnera Trading Down 3.6 %

Shares of MAGN opened at $18.33 on Monday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45. The firm has a market cap of $648.88 million, a PE ratio of -1.00 and a beta of 1.66. Magnera Corp has a 1 year low of $15.80 and a 1 year high of $26.78. The stock has a 50 day moving average of $19.75.

Magnera (NYSE:MAGN) 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 period in the prior year, the firm earned ($0.25) earnings per share.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MAGN. Wells Fargo & Company boosted their price target on shares of Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Vertical Research assumed coverage on shares of Magnera in a research note on Wednesday, March 19th. They issued a “hold” rating and a $21.00 target price on the stock.

Insider Transactions at Magnera

In other Magnera news, Director Carl J. Rickertsen bought 20,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought 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 owns 21,306 shares in the company, valued at $433,150.98. This represents a 1,531.39 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Curt Begle purchased 23,786 shares of Magnera stock in a transaction that occurred on Tuesday, February 11th. The shares were bought 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 owns 24,066 shares in the company, valued at $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. 2.26% of the stock is owned by insiders.

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.