Janney Montgomery Scott LLC Sells 13,671 Shares of Magna International Inc. $MGA

Key Points

• Janney Montgomery Scott LLC reduced its stake in Magna International by 5.4%, selling 13,671 shares to hold a total of 238,161 shares worth approximately $9.2 million as of the latest SEC filing.
• Magna International reported $1.44 earnings per share for its last quarter, exceeding the consensus estimate of $1.19, with revenue of $10.82 billion compared to expectations of $10.10 billion.
• The company's recent dividend announced was $0.485 per share, translating to a 4.0% yield with a payout ratio of 45.54%.

Janney Montgomery Scott LLC lessened its holdings in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 5.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 238,161 shares of the company's stock after selling 13,671 shares during the quarter. Janney Montgomery Scott LLC owned 0.08% of Magna International worth $9,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of MGA. Versant Capital Management Inc bought a new position in Magna International in the 1st quarter valued at $27,000. SG Americas Securities LLC grew its stake in Magna International by 11.9% in the 1st quarter. SG Americas Securities LLC now owns 54,440 shares of the company's stock valued at $1,850,000 after purchasing an additional 5,797 shares during the period. Lorne Steinberg Wealth Management Inc. grew its stake in shares of Magna International by 6.4% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 84,570 shares of the company's stock worth $2,877,000 after acquiring an additional 5,075 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Magna International by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 252,500 shares of the company's stock worth $8,582,000 after acquiring an additional 13,220 shares during the period. Finally, ARGA Investment Management LP grew its stake in shares of Magna International by 17.0% during the 1st quarter. ARGA Investment Management LP now owns 2,997,857 shares of the company's stock worth $101,890,000 after acquiring an additional 436,366 shares during the period. Institutional investors own 67.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wells Fargo & Company cut their price target on Magna International from $46.00 to $45.00 and set an "equal weight" rating for the company in a research note on Friday. Royal Bank Of Canada reiterated a "sector perform" rating and set a $45.00 price target on shares of Magna International in a research note on Friday, September 12th. Scotiabank raised their target price on Magna International from $38.00 to $44.00 and gave the stock a "sector perform" rating in a research note on Monday, July 14th. Evercore ISI raised their target price on Magna International from $37.00 to $40.00 and gave the stock an "in-line" rating in a research note on Monday, August 4th. Finally, Cfra Research upgraded Magna International to a "hold" rating in a research note on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $44.00.

Magna International Stock Performance

NYSE:MGA opened at $48.97 on Friday. The business's 50-day moving average price is $45.11 and its two-hundred day moving average price is $39.58. Magna International Inc. has a twelve month low of $30.39 and a twelve month high of $49.00. The stock has a market cap of $13.80 billion, a P/E ratio of 11.50, a PEG ratio of 1.09 and a beta of 1.53. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.39.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings results on Friday, August 1st. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.25. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The firm had revenue of $10.82 billion for the quarter, compared to analysts' expectations of $10.10 billion. During the same quarter last year, the firm posted $1.35 EPS. The company's revenue was down 3.0% compared to the same quarter last year. Magna International has set its FY 2025 guidance at EPS. As a group, equities analysts predict 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, August 29th. Investors of record on Friday, August 15th were given a $0.485 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.94 dividend on an annualized basis and a yield of 4.0%. Magna International's payout ratio is presently 45.54%.

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.

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