Rep. Thomas H. Kean, Jr. Sells Magnera Corp (NYSE:MAGN) Shares

Representative Thomas H. Kean, Jr. (R-New Jersey) recently sold shares of Magnera Corp (NYSE:MAGN). In a filing disclosed on March 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in Magnera stock on February 12th. The trade occurred in the Representative’s “KEAN FAMILY PARTNERSHIP” account.

Representative Thomas H. Kean, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 2/26/2025.
• Sold $15,001 – $50,000 in shares of Stryker (NYSE:SYK) on 2/26/2025.
• Purchased $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 1/16/2025.
• Purchased $1,001 – $15,000 in shares of Crown (NYSE:CCK) on 1/7/2025.
• Purchased $1,001 – $15,000 in shares of Canadian Pacific Kansas City (NYSE:CP) on 12/27/2024.
• Purchased $1,001 – $15,000 in shares of Pernod Ricard (OTC:PRNDY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOG) on 12/19/2024.
• Sold $1,001 – $15,000 in shares of Franklin Resources (NYSE:BEN) on 12/16/2024.
• Purchased $1,001 – $15,000 in shares of Prologis (NYSE:PLD) on 12/16/2024.

Magnera Stock Performance

Magnera stock opened at $19.19 on Friday. The company has a fifty day moving average of $19.88. Magnera Corp has a 1 year low of $15.80 and a 1 year high of $26.78. The firm has a market cap of $679.33 million, a PE ratio of -1.05 and a beta of 1.66. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80.

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 net margin of 6.97% and a negative return on equity of 10.62%. During the same quarter last year, the firm posted ($0.25) earnings per share.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Magnera

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new stake in Magnera during the 4th quarter worth $26,000. Shell Asset Management Co. acquired a new stake in Magnera during the 4th quarter worth $41,000. Vestcor Inc acquired a new stake in Magnera during the 4th quarter worth $46,000. State of Alaska Department of Revenue acquired a new stake in Magnera during the 4th quarter worth $48,000. Finally, KBC Group NV acquired a new stake in Magnera during the 4th quarter worth $51,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

Insiders Place Their Bets

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

About Representative Kean

Thomas Kean Jr. (Republican Party) is a member of the U.S. House, representing New Jersey’s 7th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2027.

Kean (Republican Party) is running for re-election to the U.S. House to represent New Jersey’s 7th Congressional District. He declared candidacy for the 2026 election.

Thomas Kean Jr. lives in Westfield, New Jersey. Kean earned a master’s degree from the Tufts University Fletcher School of Law and Diplomacy. His career experience includes working with the Environmental Protection Agency during the George H.W. Bush administration and as an advisor to former U.S. Representative Bob Franks, a firefighter, and an emergency medical technician. Kean has served as the vice president of a fire department.

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.