JARISLOWSKY FRASER Ltd trimmed its holdings in Magna International Inc. (NYSE:MGA – Free Report) TSE: MG by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,966,832 shares of the company’s stock after selling 281,562 shares during the quarter. Magna International comprises approximately 2.4% of JARISLOWSKY FRASER Ltd’s portfolio, making the stock its 12th biggest position. JARISLOWSKY FRASER Ltd owned approximately 2.43% of Magna International worth $413,641,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MGA. S.A. Mason LLC increased its holdings in shares of Magna International by 24.4% in the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after purchasing an additional 229 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Magna International by 9.6% during the third quarter. Van ECK Associates Corp now owns 3,576 shares of the company’s stock worth $192,000 after purchasing an additional 312 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Magna International by 332.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after purchasing an additional 526 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Magna International by 50.8% during the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock worth $154,000 after purchasing an additional 879 shares during the last quarter. Finally, DGS Capital Management LLC lifted its stake in Magna International by 18.1% during the fourth quarter. DGS Capital Management LLC now owns 8,973 shares of the company’s stock worth $530,000 after purchasing an additional 1,378 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on MGA shares. JPMorgan Chase & Co. lifted their price target on Magna International from $69.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Wells Fargo & Company decreased their target price on shares of Magna International from $52.00 to $49.00 and set an “equal weight” rating for the company in a research report on Monday, May 6th. Raymond James lowered their target price on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating on the stock in a research note on Monday, May 6th. BMO Capital Markets cut their price objective on shares of Magna International from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Finally, Royal Bank of Canada decreased their price objective on Magna International from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Monday, February 12th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.00.
Magna International Stock Up 1.3 %
Magna International stock traded up $0.59 during midday trading on Monday, reaching $45.35. The stock had a trading volume of 4,044,600 shares, compared to its average volume of 1,656,628. The company has a current ratio of 1.09, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. Magna International Inc. has a 12 month low of $44.65 and a 12 month high of $65.27. The company has a fifty day moving average price of $49.83 and a two-hundred day moving average price of $53.57. The company has a market capitalization of $13.03 billion, a P/E ratio of 12.88, a PEG ratio of 0.58 and a beta of 1.69.
Magna International (NYSE:MGA – Get Free Report) TSE: MG last posted its quarterly earnings data on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). Magna International had a return on equity of 12.96% and a net margin of 2.35%. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.97 billion. During the same period in the prior year, the firm earned $1.11 earnings per share. Magna International’s revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts expect that Magna International Inc. will post 5.81 EPS for the current fiscal year.
Magna International Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.475 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.19%. Magna International’s dividend payout ratio (DPR) is currently 53.98%.
About Magna International
Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.