Catalyst Funds Management Pty Ltd Grows Stake in Magnera Corp (NYSE:MAGN)

Catalyst Funds Management Pty Ltd boosted its position in shares of Magnera Corp (NYSE:MAGN) by 233.4% in the fourth quarter, Holdings Channel reports. The fund owned 37,669 shares of the company’s stock after purchasing an additional 26,369 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Magnera were worth $684,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MAGN. Wilmington Savings Fund Society FSB purchased a new position in shares of Magnera during the 4th quarter worth $26,000. Vestcor Inc bought a new position in Magnera in the 4th quarter worth $46,000. State of Alaska Department of Revenue purchased a new position in Magnera during the fourth quarter valued at $48,000. KBC Group NV bought a new stake in Magnera during the fourth quarter valued at about $51,000. Finally, Rhumbline Advisers purchased a new stake in Magnera in the fourth quarter worth about $55,000. Institutional investors own 76.92% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lifted their price objective on Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 7th.

Magnera Price Performance

MAGN opened at $19.19 on Friday. The stock has a 50 day moving average price of $19.86. The company has a current ratio of 2.45, a quick ratio of 1.52 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $679.33 million, a price-to-earnings ratio of -1.05 and a beta of 1.66. Magnera Corp has a 1-year low of $15.80 and a 1-year high of $26.78.

Magnera (NYSE:MAGN) last issued its earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share for the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. During the same quarter in the prior year, the company posted ($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.