UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Invests $1.04 Million in Magnera Corp (NYSE:MAGN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Magnera Corp (NYSE:MAGN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,217 shares of the company's stock, valued at approximately $1,040,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.63% of Magnera at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Magnera during the 4th quarter valued at $26,000. Shell Asset Management Co. purchased a new position in shares of Magnera during the 4th quarter valued at $41,000. Vestcor Inc purchased a new position in shares of Magnera during the 4th quarter valued at $46,000. State of Alaska Department of Revenue purchased a new position in shares of Magnera during the 4th quarter valued at $48,000. Finally, KBC Group NV purchased a new stake in Magnera during the 4th quarter worth about $51,000. Institutional investors own 76.92% of the company's stock.

Magnera Price Performance

Shares of NYSE:MAGN traded down $1.05 on Friday, hitting $12.84. The company's stock had a trading volume of 822,718 shares, compared to its average volume of 574,125. The firm's 50-day moving average price is $13.76. Magnera Corp has a 1 year low of $11.43 and a 1 year high of $26.78. 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 quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80.

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). Magnera had a negative net margin of 6.97% and a negative return on equity of 10.62%. The business had revenue of $824.00 million during the quarter. The business's revenue was up 47.7% on a year-over-year basis.

Insider Activity at Magnera

In other news, CEO Curt Begle acquired 20,275 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were bought at an average cost of $14.01 per share, with a total value of $284,052.75. Following the acquisition, the chief executive officer now owns 44,341 shares in the company, valued at approximately $621,217.41. This represents a 84.25% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carl J. Rickertsen purchased 20,000 shares of Magnera stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average price of $13.65 per share, for a total transaction of $273,000.00. Following the completion of the transaction, the director now owns 41,306 shares in the company, valued at $563,826.90. The trade was a 93.87% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 94,215 shares of company stock valued at $1,263,094. Corporate insiders own 2.26% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Vertical Research assumed coverage on Magnera in a research note on Wednesday, March 19th. They issued a "hold" rating and a $21.00 target price for the company. Wells Fargo & Company downgraded Magnera from an "overweight" rating to a "reduce" rating in a research note on Wednesday, May 14th.

Magnera 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.