30,252 Shares in Magnera Corp (NYSE:MAGN) Bought by California State Teachers Retirement System

California State Teachers Retirement System purchased a new stake in Magnera Corp (NYSE:MAGN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 30,252 shares of the company's stock, valued at approximately $550,000. California State Teachers Retirement System owned 0.09% of Magnera as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new stake in Magnera during the fourth quarter worth $26,000. Shell Asset Management Co. bought a new stake in Magnera during the fourth quarter worth $41,000. Vestcor Inc bought a new stake in Magnera during the fourth quarter worth $46,000. State of Alaska Department of Revenue bought a new stake in Magnera during the fourth quarter worth $48,000. Finally, National Bank of Canada FI bought a new position in Magnera in the 4th quarter valued at $52,000. 76.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MAGN shares. Wells Fargo & Company downgraded Magnera from an "overweight" rating to a "reduce" rating in a research note on Wednesday, May 14th. Vertical Research started coverage on Magnera in a research note on Wednesday, March 19th. They issued a "hold" rating and a $21.00 price objective for the company.

Insider Buying and Selling

In other news, CEO Curt Begle bought 20,275 shares of the stock in a transaction dated Friday, May 9th. The stock was bought at an average price of $14.01 per share, for a total transaction of $284,052.75. Following the purchase, the chief executive officer now directly owns 44,341 shares in the company, valued at $621,217.41. This trade represents a 84.25% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce Brown bought 16,940 shares of the stock in a transaction dated Thursday, May 29th. The stock was purchased at an average price of $11.81 per share, with a total value of $200,061.40. Following the purchase, the director now owns 17,228 shares in the company, valued at $203,462.68. This trade represents a 5,881.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 94,215 shares of company stock worth $1,263,094 in the last ninety days. 2.26% of the stock is owned by insiders.

Magnera Stock Down 7.6%

MAGN traded down $1.05 during trading on Friday, reaching $12.84. 822,718 shares of the company were exchanged, compared to its average volume of 574,125. The company has a 50-day simple moving average of $13.76. The stock has a market cap of $457.10 million, a P/E ratio of -0.70 and a beta of 1.66. 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 Corp has a 12-month low of $11.43 and a 12-month high of $26.78.

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

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.