Magna International Inc. $MGA Shares Acquired by Hillsdale Investment Management Inc.

Key Points

• Hillsdale Investment Management increased its Magna International stake by 2.3% in the fourth quarter, bringing its holdings to 725,425 shares worth about $38.7 million.
• Magna International’s latest quarterly results beat EPS estimates, reporting $1.38 per share versus the $1.01 consensus, while revenue rose 3.1% year over year to $10.13 billion.
• The company also pays a quarterly dividend of $0.495 per share, equal to an annualized yield of 3.1%, though analysts currently rate the stock Hold on average with a $63.13 price target.

Hillsdale Investment Management Inc. grew its position in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 725,425 shares of the company's stock after buying an additional 16,255 shares during the quarter. Magna International accounts for 1.1% of Hillsdale Investment Management Inc.'s holdings, making the stock its 18th largest holding. Hillsdale Investment Management Inc. owned approximately 0.26% of Magna International worth $38,741,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Magna International in the fourth quarter valued at $1,855,000. Geode Capital Management LLC grew its stake in shares of Magna International by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company's stock valued at $128,774,000 after buying an additional 154,710 shares in the last quarter. Systematic Financial Management LP grew its stake in shares of Magna International by 39.6% in the fourth quarter. Systematic Financial Management LP now owns 68,300 shares of the company's stock valued at $3,640,000 after buying an additional 19,390 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Magna International by 35.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company's stock valued at $42,000 after buying an additional 205 shares in the last quarter. Finally, Shakespeare Wealth Management LLC acquired a new stake in shares of Magna International in the fourth quarter valued at $221,000. 67.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Magna International from $54.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 18th. Zacks Research cut Magna International from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. Canadian Imperial Bank of Commerce lowered their target price on Magna International to $74.00 in a research note on Monday, May 4th. Barclays cut their price target on Magna International from $67.00 to $66.00 and set an "equal weight" rating on the stock in a report on Monday, March 30th. Finally, Veritas upgraded Magna International to a "strong-buy" rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $63.13.

Magna International Price Performance

Shares of NYSE MGA opened at $64.80 on Friday. The stock's 50-day moving average is $59.59 and its two-hundred day moving average is $56.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88. Magna International Inc. has a 1-year low of $35.34 and a 1-year high of $69.94. The company has a market cap of $17.64 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its quarterly earnings results on Friday, May 1st. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.37. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The company had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the prior year, the business earned $0.78 EPS. Magna International's revenue was up 3.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Analysts forecast that Magna International Inc. will post 6.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, May 15th. Magna International's payout ratio is 82.85%.

Magna International Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna's broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.

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