LSV Asset Management Makes New $18.38 Million Investment in Magnera Corp (NYSE:MAGN)

LSV Asset Management acquired 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 Securities & Exchange Commission. The firm acquired 1,011,667 shares of the company's stock, valued at approximately $18,382,000. LSV Asset Management owned approximately 28.90% of Magnera at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in Magnera in the 4th quarter valued at about $26,000. Vestcor Inc bought a new stake in shares of Magnera during the fourth quarter valued at approximately $46,000. State of Alaska Department of Revenue acquired a new stake in shares of Magnera in the fourth quarter valued at approximately $48,000. KBC Group NV bought a new position in Magnera in the 4th quarter worth approximately $51,000. Finally, National Bank of Canada FI bought a new position in Magnera in the 4th quarter valued at $52,000. Institutional investors own 76.92% of the company's stock.

Insider Activity at Magnera

In related news, CEO Curt Begle bought 23,786 shares of the company's stock in a transaction 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 acquisition, the chief executive officer now owns 24,066 shares of the company's stock, valued at approximately $507,311.28. This represents a 8,495.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carl J. Rickertsen purchased 20,000 shares of Magnera stock in a transaction dated Thursday, February 27th. The stock was 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 of the company's stock, valued at approximately $433,150.98. This trade represents a 1,531.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.26% of the stock is currently owned by corporate insiders.

Magnera Stock Performance

MAGN traded down $0.52 during trading on Friday, reaching $14.56. 488,149 shares of the company's stock were exchanged, compared to its average volume of 493,553. The firm has a fifty day moving average of $18.79. The firm has a market cap of $515.42 million, a price-to-earnings ratio of -0.79 and a beta of 1.76. Magnera Corp has a fifty-two week low of $13.11 and a fifty-two week high of $26.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52.

Magnera (NYSE:MAGN - Get Free Report) 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 prior year, the company posted ($0.25) earnings per share.

Analyst Ratings Changes

MAGN has been the subject of a number of recent research reports. Vertical Research started coverage on Magnera in a research report on Wednesday, March 19th. They set a "hold" rating and a $21.00 target price for the company. Wells Fargo & Company lifted their price objective on Magnera from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th.

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.