California State Teachers Retirement System Invests $550,000 in Magnera Corp (NYSE:MAGN)

California State Teachers Retirement System purchased a new stake in Magnera Corp (NYSE:MAGN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 30,252 shares of the company's stock, valued at approximately $550,000. California State Teachers Retirement System owned approximately 0.09% of Magnera at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Magnera during the 4th quarter worth about $26,000. Shell Asset Management Co. acquired a new stake in shares of Magnera during the 4th quarter worth about $41,000. Vestcor Inc acquired a new stake in shares of Magnera during the 4th quarter worth about $46,000. State of Alaska Department of Revenue acquired a new stake in shares of Magnera during the 4th quarter worth about $48,000. Finally, National Bank of Canada FI acquired a new stake in shares of Magnera during the 4th quarter worth about $52,000. Institutional investors and hedge funds own 76.92% of the company's stock.

Insider Buying and Selling at Magnera

In related news, Director Kevin Michael Fogarty purchased 20,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of $15.15 per share, for a total transaction of $303,000.00. Following the completion of the purchase, the director now directly owns 31,538 shares of the company's stock, valued at $477,800.70. This trade represents a 173.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce Brown purchased 16,940 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were bought at an average price of $11.81 per share, with a total value of $200,061.40. Following the purchase, the director now directly owns 17,228 shares of the company's stock, valued at approximately $203,462.68. The trade was a 5,881.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 94,215 shares of company stock worth $1,263,094. 2.26% of the stock is owned by insiders.

Magnera Stock Performance

NYSE MAGN traded down $1.05 on Friday, reaching $12.84. The stock had a trading volume of 822,718 shares, compared to its average volume of 574,125. 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. The company's 50-day moving average is $13.76. The firm has a market capitalization of $457.10 million, a PE ratio of -0.70 and a beta of 1.66.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MAGN shares. Vertical Research assumed coverage on Magnera in a research report on Wednesday, March 19th. They set a "hold" rating and a $21.00 target price on the stock. Wells Fargo & Company cut Magnera from an "overweight" rating to a "reduce" rating in a research note on Wednesday, May 14th.

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.