Fuller & Thaler Asset Management Inc. Acquires New Stake in Magnera Corp (NYSE:MAGN)

Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Magnera Corp (NYSE:MAGN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,301,991 shares of the company's stock, valued at approximately $23,657,000. Fuller & Thaler Asset Management Inc. owned about 37.20% of Magnera as of its most recent SEC filing.

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

Insider Activity

In other news, Director Carl J. Rickertsen bought 20,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the transaction, the director now owns 21,306 shares in the company, valued at approximately $433,150.98. This trade represents a 1,531.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Curt Begle purchased 23,786 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was purchased at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the purchase, the chief executive officer now directly owns 24,066 shares of the company's stock, valued at $507,311.28. This trade represents a 8,495.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.26% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MAGN. Wells Fargo & Company raised their price objective on shares of Magnera from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Vertical Research started coverage on Magnera in a report on Wednesday, March 19th. They set a "hold" rating and a $21.00 price objective for the company.

Magnera Stock Performance

Shares of MAGN stock traded down $0.24 during mid-day trading on Wednesday, reaching $14.51. 65,009 shares of the company were exchanged, compared to its average volume of 489,431. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80. The company has a 50 day moving average price of $17.48. The company has a market capitalization of $513.65 million, a P/E ratio of -0.79 and a beta of 1.76. Magnera Corp has a fifty-two week low of $13.07 and a fifty-two week high of $26.78.

Magnera (NYSE:MAGN - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) EPS for the quarter. Magnera had a negative net margin of 6.97% and a negative return on equity of 10.62%. During the same quarter last year, the business earned ($0.25) earnings per share.

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.