Public Employees Retirement System of Ohio Invests $673,000 in Magnera Corporation $MAGN

Public Employees Retirement System of Ohio acquired a new stake in Magnera Corporation (NYSE:MAGN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 57,275 shares of the company’s stock, valued at approximately $673,000. Public Employees Retirement System of Ohio owned approximately 0.16% of Magnera at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ancora Advisors LLC acquired a new position in Magnera during the second quarter valued at approximately $4,356,000. Globeflex Capital L P acquired a new position in shares of Magnera during the 2nd quarter worth approximately $147,000. Bank of New York Mellon Corp bought a new stake in shares of Magnera during the 2nd quarter worth approximately $1,501,000. Tactive Advisors LLC boosted its holdings in shares of Magnera by 14.7% in the 2nd quarter. Tactive Advisors LLC now owns 40,035 shares of the company’s stock valued at $470,000 after buying an additional 5,140 shares during the last quarter. Finally, Seven Six Capital Management LLC grew its stake in shares of Magnera by 33.2% in the first quarter. Seven Six Capital Management LLC now owns 374,868 shares of the company’s stock valued at $3,565,000 after buying an additional 93,350 shares in the last quarter. Institutional investors and hedge funds own 76.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Magnera from $13.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Magnera in a research report on Thursday, August 27th. Finally, Wall Street Zen raised shares of Magnera from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Magnera has an average rating of “Reduce” and a consensus price target of $16.00.

Magnera Stock Down 2.6%

MAGN opened at $11.62 on Thursday. The stock’s fifty day simple moving average is $12.82 and its 200 day simple moving average is $11.67. Magnera Corporation has a 1-year low of $7.82 and a 1-year high of $15.52. The stock has a market cap of $415.82 million, a PE ratio of -5.78 and a beta of 1.73. The company has a current ratio of 2.45, a quick ratio of 1.57 and a debt-to-equity ratio of 1.87.

Magnera (NYSE:MAGN) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.56) EPS for the quarter. The company had revenue of $857.00 million during the quarter. Magnera had a negative net margin of 3.41% and a negative return on equity of 10.77%.

Magnera Company 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.