Kendall Capital Management Takes $327,000 Position in Magna International Inc. $MGA

Key Points

• Kendall Capital Management has acquired a new stake in Magna International Inc., purchasing 8,465 shares valued at approximately $327,000 during the 2nd quarter.
• Bank of America and other research firms have boosted their price targets for Magna International, with current analyst consensus showing a target price of $44.07.
• Magna International recently declared a quarterly dividend of $0.485 per share, representing an annualized yield of 4.2%.

Kendall Capital Management purchased a new stake in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,465 shares of the company's stock, valued at approximately $327,000.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc acquired a new position in shares of Magna International in the 1st quarter valued at $27,000. Cromwell Holdings LLC raised its holdings in shares of Magna International by 131.6% in the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock valued at $28,000 after buying an additional 466 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Magna International by 385.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company's stock valued at $55,000 after buying an additional 1,136 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Magna International by 507.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company's stock valued at $51,000 after buying an additional 1,253 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of Magna International by 115.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,498 shares of the company's stock valued at $96,000 after buying an additional 1,338 shares during the period. Institutional investors and hedge funds own 67.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MGA. Bank of America boosted their price objective on Magna International from $42.00 to $45.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Cfra Research upgraded Magna International to a "hold" rating in a report on Monday, August 4th. Evercore ISI boosted their price objective on Magna International from $37.00 to $40.00 and gave the company an "in-line" rating in a report on Monday, August 4th. Wells Fargo & Company boosted their price objective on Magna International from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $45.00 price target on shares of Magna International in a report on Friday, September 12th. Three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Magna International presently has a consensus rating of "Hold" and a consensus target price of $44.07.

Magna International Trading Up 0.1%

MGA opened at $46.60 on Friday. Magna International Inc. has a one year low of $30.39 and a one year high of $47.79. The company has a market cap of $13.13 billion, a P/E ratio of 10.94, a PEG ratio of 1.04 and a beta of 1.53. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.16. The business's 50-day simple moving average is $44.58 and its 200-day simple moving average is $39.18.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its earnings results on Friday, August 1st. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $10.10 billion. During the same period in the prior year, the firm earned $1.35 EPS. The business's revenue was down 3.0% on a year-over-year basis. Magna International has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, August 15th. Magna International's dividend payout ratio is 45.54%.

Magna International Company 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.

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