BNP Paribas Financial Markets Trims Stock Holdings in Magna International Inc. (NYSE:MGA)

BNP Paribas Financial Markets decreased its position in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 98.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,489 shares of the company's stock after selling 82,905 shares during the quarter. BNP Paribas Financial Markets' holdings in Magna International were worth $62,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGA. Millstone Evans Group LLC purchased a new position in shares of Magna International in the fourth quarter valued at $33,000. Lindbrook Capital LLC boosted its stake in Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock worth $43,000 after purchasing an additional 312 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Magna International by 290.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,501 shares of the company's stock valued at $141,000 after buying an additional 2,605 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Magna International in the fourth quarter valued at approximately $213,000. Finally, Entropy Technologies LP purchased a new position in Magna International during the fourth quarter valued at approximately $256,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Trading Up 1.3%

NYSE:MGA traded up $0.48 during midday trading on Friday, reaching $36.62. 981,136 shares of the stock traded hands, compared to its average volume of 1,731,403. The company has a fifty day moving average of $34.39 and a 200 day moving average of $38.20. Magna International Inc. has a 12 month low of $30.39 and a 12 month high of $47.22. The stock has a market capitalization of $10.32 billion, a P/E ratio of 10.43, a PEG ratio of 0.63 and a beta of 1.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings results on Friday, May 2nd. The company reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). Magna International had a net margin of 2.36% and a return on equity of 12.78%. The business had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the previous year, the company earned $1.08 EPS. The company's revenue for the quarter was down 8.2% on a year-over-year basis. On average, research analysts predict that Magna International Inc. will post 5.87 EPS for the current year.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend was Friday, May 16th. Magna International's payout ratio is 48.50%.

Analyst Ratings Changes

Several analysts have issued reports on MGA shares. Wells Fargo & Company raised their price target on shares of Magna International from $32.00 to $37.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Raymond James dropped their price objective on Magna International from $53.00 to $50.00 and set a "market perform" rating for the company in a research note on Tuesday, February 18th. TD Securities raised their price target on Magna International from $44.00 to $45.00 and gave the company a "buy" rating in a report on Monday, May 5th. Veritas upgraded Magna International to a "hold" rating in a research report on Thursday, April 24th. Finally, Royal Bank of Canada cut their price objective on Magna International from $32.00 to $31.00 and set a "sector perform" rating for the company in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Magna International has an average rating of "Hold" and an average price target of $41.56.

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.