Dimensional Fund Advisors LP Takes $16.97 Million Position in Magnera Corp (NYSE:MAGN)

Dimensional Fund Advisors LP acquired a new position in shares of Magnera Corp (NYSE:MAGN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 934,124 shares of the company's stock, valued at approximately $16,972,000. Dimensional Fund Advisors LP owned about 26.69% of Magnera at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new position in Magnera during the 4th quarter worth approximately $26,000. Vestcor Inc bought a new position in Magnera during the fourth quarter worth $46,000. State of Alaska Department of Revenue acquired a new position in Magnera in the fourth quarter valued at $48,000. KBC Group NV bought a new stake in Magnera during the fourth quarter valued at $51,000. Finally, National Bank of Canada FI acquired a new stake in Magnera during the 4th quarter worth about $52,000. 76.92% of the stock is owned by institutional investors and hedge funds.

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 stock was acquired at an average cost of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the transaction, 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 legal filing with the SEC, which is available through this link. Also, Director Carl J. Rickertsen purchased 20,000 shares of the firm's 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 acquisition, 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. In the last three months, insiders have purchased 64,061 shares of company stock worth $1,192,062. 2.26% of the stock is owned by company insiders.

Magnera Stock Performance

NYSE:MAGN traded up $0.43 during trading on Friday, reaching $14.19. The company's stock had a trading volume of 1,075,810 shares, compared to its average volume of 532,965. Magnera Corp has a 12 month low of $12.20 and a 12 month high of $26.78. The company has a 50 day simple moving average of $16.52. The company has a market capitalization of $502.33 million, a price-to-earnings ratio of -0.77 and a beta of 1.76. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45.

Magnera (NYSE:MAGN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of $0.20 by ($1.35). Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. The business had revenue of $824.00 million during the quarter. The firm's quarterly revenue was up 47.7% compared to the same quarter last year.

Analyst Ratings Changes

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