Magna International Inc. (NYSE:MGA) Shares Acquired by ARGA Investment Management LP

ARGA Investment Management LP lifted its stake in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 17.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,997,857 shares of the company's stock after purchasing an additional 436,366 shares during the period. Magna International makes up 3.4% of ARGA Investment Management LP's investment portfolio, making the stock its 13th largest holding. ARGA Investment Management LP owned 1.06% of Magna International worth $101,890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MGA. Bank of New York Mellon Corp raised its position in Magna International by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 239,280 shares of the company's stock worth $10,000,000 after acquiring an additional 14,441 shares during the last quarter. 1620 Investment Advisors Inc. raised its position in Magna International by 3.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company's stock worth $328,000 after acquiring an additional 276 shares during the last quarter. Millstone Evans Group LLC acquired a new position in Magna International during the fourth quarter worth about $33,000. Sciencast Management LP acquired a new position in Magna International during the fourth quarter worth about $653,000. Finally, Mufg Securities Canada LTD. raised its position in Magna International by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company's stock worth $17,228,000 after acquiring an additional 172,754 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company's stock.

Magna International Trading Up 1.8%

MGA traded up $0.72 during trading on Tuesday, hitting $41.63. 1,304,842 shares of the company's stock were exchanged, compared to its average volume of 1,739,791. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of 0.32. Magna International Inc. has a 1 year low of $30.39 and a 1 year high of $47.22. The stock has a 50 day moving average price of $36.86 and a 200 day moving average price of $37.24. The firm has a market cap of $11.73 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 0.75 and a beta of 1.50.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings data on Friday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). Magna International had a return on equity of 11.96% and a net margin of 2.73%. The business had revenue of $9.68 billion for the quarter, compared to analysts' expectations of $9.66 billion. During the same quarter in the prior year, the firm earned $1.08 earnings per share. Magna International's quarterly revenue was down 8.2% compared to the same quarter last year. As a group, analysts expect that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.485 per share. The ex-dividend date was Friday, May 16th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.66%. Magna International's payout ratio is currently 48.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MGA shares. UBS Group lowered their price target on shares of Magna International from $41.00 to $34.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. BMO Capital Markets lowered their price target on shares of Magna International from $47.00 to $41.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Bank of America lifted their price target on shares of Magna International from $42.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Morgan Stanley lowered their price target on shares of Magna International from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Finally, Scotiabank lowered their price target on shares of Magna International from $45.00 to $38.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $41.44.

Magna International Profile

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.