South Dakota Investment Council Acquires New Position in Magnera Corp (NYSE:MAGN)

South Dakota Investment Council acquired a new stake in Magnera Corp (NYSE:MAGN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,469 shares of the company’s stock, valued at approximately $172,000. South Dakota Investment Council owned about 0.27% of Magnera at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Magnera in the fourth quarter valued at about $26,000. State of Alaska Department of Revenue acquired a new stake in shares of Magnera during the 4th quarter worth approximately $48,000. KBC Group NV purchased a new stake in shares of Magnera during the 4th quarter valued at approximately $51,000. Rhumbline Advisers purchased a new stake in Magnera in the fourth quarter valued at $55,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Magnera in the fourth quarter valued at about $101,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised their price target on Magnera from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th.

Insider Buying and Selling at Magnera

In other news, CEO Curt Begle purchased 23,786 shares of the stock in a transaction on Tuesday, February 11th. The stock was bought at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the acquisition, the chief executive officer now directly owns 24,066 shares of the company’s stock, valued at approximately $507,311.28. The trade was a 8,495.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.26% of the stock is owned by corporate insiders.

Magnera Stock Performance

Shares of MAGN stock opened at $21.01 on Tuesday. The company has a market capitalization of $743.75 million, a P/E ratio of -1.15 and a beta of 1.67. Magnera Corp has a fifty-two week low of $15.80 and a fifty-two week high of $29.77. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80.

Magnera (NYSE:MAGN) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share 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 business posted ($0.25) EPS.

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.