KBC Group NV Acquires New Shares in Magnera Corp (NYSE:MAGN)

KBC Group NV bought a new position in Magnera Corp (NYSE:MAGN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,814 shares of the company’s stock, valued at approximately $51,000. KBC Group NV owned about 0.08% of Magnera at the end of the most recent reporting period.

Separately, Ballentine Partners LLC bought a new stake in shares of Magnera in the 4th quarter valued at approximately $295,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

Magnera Trading Up 2.2 %

Shares of NYSE:MAGN opened at $20.57 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.49 and a quick ratio of 1.04. The firm has a market capitalization of $71.97 million, a P/E ratio of -1.12 and a beta of 1.67. Magnera Corp has a 1 year low of $15.80 and a 1 year high of $31.07.

Magnera (NYSE:MAGN) last released its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) for the quarter. Magnera had a negative return on equity of 22.40% and a negative net margin of 6.97%. During the same period in the prior year, the company posted ($0.25) EPS.

Analysts Set New Price Targets

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

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.