Nuveen Asset Management LLC Purchases Shares of 33,702 Magnera Corp (NYSE:MAGN)

Nuveen Asset Management LLC purchased a new position in shares of Magnera Corp (NYSE:MAGN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 33,702 shares of the company's stock, valued at approximately $612,000. Nuveen Asset Management LLC owned about 0.96% of Magnera at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, Director Bruce Brown acquired 16,940 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were purchased at an average price of $11.81 per share, with a total value of $200,061.40. Following the completion of the purchase, the director now directly owns 17,228 shares of the company's stock, valued at $203,462.68. This represents a 5,881.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Curt Begle acquired 20,275 shares of Magnera stock in a transaction dated Friday, May 9th. The stock was purchased at an average cost of $14.01 per share, with a total value of $284,052.75. Following the completion of the purchase, the chief executive officer now owns 44,341 shares of the company's stock, valued at approximately $621,217.41. This represents a 84.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 94,215 shares of company stock valued at $1,263,094 over the last 90 days. Company insiders own 2.26% of the company's stock.

Magnera Trading Up 6.4%

NYSE:MAGN opened at $13.04 on Friday. The stock has a 50-day moving average of $14.05. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45. The stock has a market cap of $464.22 million, a PE ratio of -0.71 and a beta of 1.76. 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 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 for the quarter. Magnera's revenue for the quarter was up 47.7% compared to the same quarter last year.

Analyst Upgrades and Downgrades

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

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.

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