Amundi Grows Stock Holdings in Magna International Inc. $MGA

Amundi boosted its holdings in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 19.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 582,710 shares of the company's stock after acquiring an additional 93,189 shares during the quarter. Amundi owned 0.21% of Magna International worth $19,305,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Caisse DE Depot ET Placement DU Quebec bought a new position in Magna International in the 1st quarter valued at about $8,416,000. Quantbot Technologies LP lifted its position in shares of Magna International by 3,849.3% during the 1st quarter. Quantbot Technologies LP now owns 165,908 shares of the company's stock worth $5,639,000 after buying an additional 161,707 shares in the last quarter. Gulf International Bank UK Ltd lifted its position in shares of Magna International by 2,381.1% during the 1st quarter. Gulf International Bank UK Ltd now owns 15,730 shares of the company's stock worth $535,000 after buying an additional 15,096 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Magna International during the 1st quarter worth approximately $99,000. Finally, ARK Investment Management LLC bought a new position in shares of Magna International during the 1st quarter worth approximately $5,478,000. Institutional investors own 67.49% of the company's stock.

Wall Street Analysts Forecast Growth

MGA has been the topic of several recent analyst reports. Scotiabank lifted their target price on shares of Magna International from $38.00 to $44.00 and gave the stock a "sector perform" rating in a research report on Monday, July 14th. Morgan Stanley dropped their target price on shares of Magna International from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Cfra Research raised shares of Magna International to a "hold" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. lifted their target price on shares of Magna International from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Evercore ISI lifted their target price on shares of Magna International from $37.00 to $40.00 and gave the stock an "in-line" rating in a research report on Monday, August 4th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Magna International has a consensus rating of "Hold" and an average price target of $43.50.

Magna International Stock Performance

Shares of MGA stock traded down $0.39 during trading hours on Friday, hitting $46.40. 1,077,940 shares of the company were exchanged, compared to its average volume of 1,336,085. The firm has a fifty day simple moving average of $43.65 and a 200 day simple moving average of $38.49. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. Magna International Inc. has a 52-week low of $30.39 and a 52-week high of $47.22. The stock has a market capitalization of $13.08 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.05 and a beta of 1.53.

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

Magna International Announces Dividend

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

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.