South Dakota Investment Council Invests $172,000 in Magnera Corp (NYSE:MAGN)

South Dakota Investment Council bought a new stake in Magnera Corp (NYSE:MAGN) during the fourth quarter, Holdings Channel.com reports. The fund bought 9,469 shares of the company’s stock, valued at approximately $172,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MAGN. Ballentine Partners LLC acquired a new position in Magnera in the fourth quarter valued at $295,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Magnera in the 4th quarter valued at about $101,000. Rhumbline Advisers purchased a new stake in shares of Magnera in the 4th quarter valued at about $55,000. KBC Group NV acquired a new stake in shares of Magnera in the 4th quarter valued at about $51,000. Finally, State of Alaska Department of Revenue purchased a new position in Magnera during the 4th quarter worth approximately $48,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Magnera

In other news, CEO Curt Begle acquired 23,786 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were purchased at an average cost 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 in the company, valued at approximately $507,311.28. This represents a 8,495.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 2.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Wells Fargo & Company boosted their price objective on Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 7th.

Magnera Trading Down 2.0 %

MAGN stock opened at $21.01 on Tuesday. The firm has a market capitalization of $743.75 million, a P/E ratio of -1.15 and a beta of 1.67. 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 Corp has a 12 month low of $15.80 and a 12 month high of $29.77.

Magnera (NYSE:MAGN) last announced its earnings results 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 quarter in the previous year, the firm earned ($0.25) earnings per share.

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.