Dimensional Fund Advisors LP Takes $16.97 Million Position in Magnera Corp (NYSE:MAGN)

Dimensional Fund Advisors LP acquired a new position in shares of Magnera Corp (NYSE:MAGN) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 934,124 shares of the company’s stock, valued at approximately $16,972,000. Dimensional Fund Advisors LP owned about 26.69% of Magnera at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC bought a new stake in shares of Magnera during the 4th quarter valued at about $295,000. KBC Group NV acquired a new position in shares of Magnera during the fourth quarter valued at $51,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Magnera during the 4th quarter valued at $101,000. State of Alaska Department of Revenue bought a new position in shares of Magnera in the fourth quarter valued at $48,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Magnera during the 4th quarter valued at $26,000. Institutional investors own 76.92% of the company’s stock.

Insider Activity

In other Magnera news, Director Carl J. Rickertsen purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $20.33 per share, with a total value of $406,600.00. Following the completion of the acquisition, the director now directly owns 21,306 shares of the company’s stock, valued at $433,150.98. This represents a 1,531.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Curt Begle acquired 23,786 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were bought at an average cost of $21.08 per share, for a total transaction of $501,408.88. Following the acquisition, the chief executive officer now owns 24,066 shares in the company, valued at approximately $507,311.28. The trade was a 8,495.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.26% of the company’s stock.

Magnera Trading Down 17.8 %

Shares of Magnera stock opened at $12.47 on Thursday. The firm has a market capitalization of $441.44 million, a P/E ratio of -0.68 and a beta of 1.76. Magnera Corp has a 1 year low of $12.20 and a 1 year high of $26.78. The business has a fifty day moving average of $16.74. 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 (NYSE:MAGN) last announced its quarterly earnings data 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 return on equity of 10.62% and a negative net margin of 6.97%. Magnera’s quarterly revenue was up 47.7% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MAGN. Wells Fargo & Company upped their price objective on shares of Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Vertical Research initiated coverage on Magnera in a research report on Wednesday, March 19th. They set a “hold” rating and a $21.00 target price for the company.

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.