Magna International Inc. $MGA Shares Bought by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly increased its position in Magna International by 3,849.3% during Q1, acquiring a total of 165,908 shares worth approximately $5.6 million.
• Magna International recently reported a Q2 EPS of $1.44, surpassing estimates of $1.19, but revenue was down 3.0% compared to the same period last year.
• The company announced a quarterly dividend of $0.485 per share, with a dividend yield of 4.4%, to be paid on August 29th.

Quantbot Technologies LP raised its position in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 3,849.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 165,908 shares of the company's stock after buying an additional 161,707 shares during the period. Quantbot Technologies LP owned about 0.06% of Magna International worth $5,639,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MGA. ARGA Investment Management LP boosted its holdings in shares of Magna International by 17.0% during the 1st quarter. ARGA Investment Management LP now owns 2,997,857 shares of the company's stock worth $101,890,000 after purchasing an additional 436,366 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Magna International by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 252,500 shares of the company's stock worth $8,582,000 after purchasing an additional 13,220 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Magna International by 19.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 251,832 shares of the company's stock worth $8,560,000 after purchasing an additional 41,811 shares during the last quarter. ARK Investment Management LLC acquired a new position in shares of Magna International during the 1st quarter worth approximately $5,478,000. Finally, Lorne Steinberg Wealth Management Inc. boosted its holdings in shares of Magna International by 6.4% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 84,570 shares of the company's stock worth $2,877,000 after purchasing an additional 5,075 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Magna International Stock Down 0.6%

NYSE:MGA opened at $44.05 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The stock's fifty day moving average is $40.93 and its two-hundred day moving average is $37.52. 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 $12.41 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 0.99 and a beta of 1.51.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings results on Friday, August 1st. The company reported $1.44 EPS for the quarter, topping 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 company had revenue of $10.82 billion for the quarter, compared to analysts' expectations of $10.10 billion. During the same period in the prior year, the firm earned $1.35 earnings per share. The firm's revenue was down 3.0% compared to the same quarter last year. Research analysts anticipate that Magna International Inc. will post 5.87 EPS for the current year.

Magna International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.4%. Magna International's dividend payout ratio is currently 45.54%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Magna International from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Bank of America upped 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. Barclays upped their price objective on Magna International from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Cfra Research upgraded Magna International to a "hold" rating in a report on Monday, August 4th. Finally, Wall Street Zen upgraded Magna International from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $42.36.

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.

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