Gulf International Bank UK Ltd grew its holdings in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 2,381.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,730 shares of the company's stock after purchasing an additional 15,096 shares during the period. Gulf International Bank UK Ltd's holdings in Magna International were worth $535,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. LRI Investments LLC raised its holdings in shares of Magna International by 2,126.5% in the fourth quarter. LRI Investments LLC now owns 757 shares of the company's stock valued at $32,000 after purchasing an additional 723 shares during the last quarter. Versant Capital Management Inc bought a new position in shares of Magna International in the first quarter valued at $27,000. Cromwell Holdings LLC grew its stake in shares of Magna International by 131.6% in the first quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock valued at $28,000 after buying an additional 466 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Magna International by 507.3% in the first 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 in the last quarter. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Magna International in the first quarter valued at $99,000. 67.49% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
MGA has been the subject of several analyst reports. Barclays raised their target price on shares of Magna International from $40.00 to $45.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Cfra Research raised shares of Magna International to a "hold" rating in a research note on Monday, August 4th. Morgan Stanley decreased their target price on shares of Magna International from $40.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Veritas raised shares of Magna International to a "hold" rating in a research report on Thursday, April 24th. Finally, Evercore ISI lifted their price objective 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 investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $42.36.
View Our Latest Stock Report on MGA
Magna International Stock Performance
Shares of Magna International stock traded up $1.70 during trading on Friday, reaching $45.90. The company's stock had a trading volume of 461,295 shares, compared to its average volume of 1,765,740. The business's 50-day moving average price is $41.29 and its 200-day moving average price is $37.67. The firm has a market cap of $12.93 billion, a PE ratio of 10.80, a P/E/G ratio of 0.99 and a beta of 1.51. Magna International Inc. has a 52 week low of $30.39 and a 52 week high of $47.22. 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 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. The company had revenue of $10.82 billion during the quarter, compared to analysts' expectations of $10.10 billion. Magna International had a net margin of 2.91% and a return on equity of 11.89%. Magna International's quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.35 earnings per share. Magna International has set its FY 2025 guidance at EPS. Equities analysts forecast that Magna International Inc. will post 5.87 earnings per share for the current year.
Magna International Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be 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 of this dividend is Friday, August 15th. Magna International's payout ratio is 45.54%.
About Magna International
(
Free Report)
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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