Magna International Inc. $MGA Shares Acquired by Amundi

Amundi grew its position in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 19.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 582,710 shares of the company's stock after buying an additional 93,189 shares during the quarter. Amundi owned 0.21% of Magna International worth $19,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Magna International in the first quarter valued at $8,416,000. Quantbot Technologies LP grew its stake in shares of Magna International by 3,849.3% in the first quarter. Quantbot Technologies LP now owns 165,908 shares of the company's stock valued at $5,639,000 after buying an additional 161,707 shares in the last quarter. Gulf International Bank UK Ltd grew its stake in shares of Magna International by 2,381.1% in the first quarter. Gulf International Bank UK Ltd now owns 15,730 shares of the company's stock valued at $535,000 after buying an additional 15,096 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Magna International in the first quarter valued at $99,000. Finally, ARK Investment Management LLC acquired a new stake in shares of Magna International in the first quarter valued at $5,478,000. 67.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MGA shares. CIBC reaffirmed a "neutral" rating and issued a $47.00 price objective (up from $46.00) on shares of Magna International in a research note on Tuesday, August 26th. Scotiabank lifted their target price on Magna International from $38.00 to $44.00 and gave the company a "sector perform" rating in a report on Monday, July 14th. Morgan Stanley decreased their target price on Magna International from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Royal Bank Of Canada lifted their target price on Magna International from $38.00 to $45.00 and gave the company a "sector perform" rating in a report on Friday, August 22nd. Finally, Wall Street Zen upgraded Magna International from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $43.50.

Magna International Stock Up 0.3%

Shares of NYSE MGA opened at $46.01 on Tuesday. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 1.03 and a beta of 1.53. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.82. The business has a 50-day moving average of $43.24 and a two-hundred day moving average of $38.27. Magna International Inc. has a 1 year low of $30.39 and a 1 year high of $47.22.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings results on Friday, August 1st. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.25. The company had revenue of $10.82 billion during the quarter, compared to the consensus estimate of $10.10 billion. Magna International had a return on equity of 11.89% and a net margin of 2.91%.Magna International's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.35 EPS. Magna International has set its FY 2025 guidance at EPS. On average, analysts forecast that Magna International Inc. will post 5.87 earnings per share for the current fiscal year.

Magna International Announces Dividend

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