Loomis Sayles & Co. L P Makes New Investment in Magnera Corp (NYSE:MAGN)

Loomis Sayles & Co. L P bought a new stake in Magnera Corp (NYSE:MAGN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 603,687 shares of the company’s stock, valued at approximately $10,969,000. Loomis Sayles & Co. L P owned 0.17% of Magnera as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MAGN. Wilmington Savings Fund Society FSB bought a new position in shares of Magnera during the fourth quarter valued at approximately $26,000. Vestcor Inc bought a new position in Magnera during the 4th quarter valued at approximately $46,000. State of Alaska Department of Revenue purchased a new position in Magnera during the fourth quarter valued at $48,000. KBC Group NV bought a new stake in Magnera in the fourth quarter worth $51,000. Finally, Rhumbline Advisers purchased a new stake in shares of Magnera in the fourth quarter worth $55,000. 76.92% of the stock is currently owned by institutional investors.

Magnera Trading Down 3.6 %

Shares of MAGN opened at $18.33 on Friday. The stock has a market cap of $648.88 million, a P/E ratio of -1.00 and a beta of 1.66. The company’s fifty day simple moving average is $19.75. Magnera Corp has a 12 month low of $15.80 and a 12 month high of $26.78. The company has a current ratio of 2.45, a quick ratio of 1.52 and a debt-to-equity ratio of 1.80.

Magnera (NYSE:MAGN) last released its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) 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 previous year, the firm earned ($0.25) EPS.

Analyst Ratings Changes

MAGN has been the topic of a number of analyst reports. Vertical Research initiated coverage on shares of Magnera in a research note on Wednesday, March 19th. They issued a “hold” rating and a $21.00 price target on the stock. Wells Fargo & Company upped their target price on shares of Magnera from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th.

Insider Activity

In other news, CEO Curt Begle purchased 23,786 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was acquired at an average cost of $21.08 per share, for a total transaction of $501,408.88. Following the purchase, the chief executive officer now directly owns 24,066 shares in the company, valued at $507,311.28. This trade represents a 8,495.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl J. Rickertsen purchased 20,000 shares of Magnera stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $20.33 per share, with a total value of $406,600.00. Following the transaction, the director now directly owns 21,306 shares in the company, valued at approximately $433,150.98. The trade was a 1,531.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.26% of the company’s stock.

About Magnera

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.