UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes Position in Magnera Corp (NYSE:MAGN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Magnera Corp (NYSE:MAGN) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 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 1.63% of Magnera at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MAGN. Wilmington Savings Fund Society FSB bought a new stake in Magnera during the 4th quarter worth approximately $26,000. Shell Asset Management Co. bought a new position in Magnera during the 4th quarter valued at $41,000. Vestcor Inc bought a new position in Magnera during the 4th quarter valued at $46,000. State of Alaska Department of Revenue bought a new position in Magnera during the 4th quarter valued at $48,000. Finally, KBC Group NV bought a new position in Magnera during the 4th quarter valued at $51,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Magnera

In other news, Director Bruce Brown acquired 16,940 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The shares were acquired at an average price of $11.81 per share, for a total transaction of $200,061.40. Following the completion of the purchase, the director now owns 17,228 shares in the company, valued at approximately $203,462.68. This trade represents a 5,881.94% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Curt Begle acquired 20,275 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average price of $14.01 per share, for a total transaction of $284,052.75. Following the purchase, the chief executive officer now owns 44,341 shares of the company’s stock, valued at $621,217.41. The trade was a 84.25% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 94,215 shares of company stock worth $1,263,094 in the last 90 days. Insiders own 2.26% of the company’s stock.

Magnera Stock Up 1.6%

Shares of NYSE MAGN opened at $13.45 on Tuesday. Magnera Corp has a twelve month low of $11.43 and a twelve month high of $26.78. The business has a 50 day simple moving average of $13.85. The stock has a market cap of $478.82 million, a P/E ratio of -0.73 and a beta of 1.66. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52.

Magnera (NYSE:MAGN) last announced its earnings results 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 return on equity of 10.62% and a negative net margin of 6.97%. The business had revenue of $824.00 million during the quarter. The company’s quarterly revenue was up 47.7% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MAGN. Vertical Research began coverage on Magnera in a research note on Wednesday, March 19th. They set a “hold” rating and a $21.00 price objective on the stock. Wells Fargo & Company cut 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.