Magna International Inc. $MGA Shares Purchased by ARGA Investment Management LP

ARGA Investment Management LP lifted its stake in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 11.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,030,060 shares of the company's stock after purchasing an additional 397,793 shares during the quarter. Magna International accounts for 6.5% of ARGA Investment Management LP's portfolio, making the stock its 6th largest position. ARGA Investment Management LP owned about 1.55% of Magna International worth $256,706,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MGA. TD Waterhouse Canada Inc. raised its position in Magna International by 10.7% during the second quarter. TD Waterhouse Canada Inc. now owns 2,130,562 shares of the company's stock valued at $134,577,000 after acquiring an additional 206,433 shares in the last quarter. Amundi raised its stake in shares of Magna International by 4.2% in the 2nd quarter. Amundi now owns 1,781,357 shares of the company's stock valued at $117,778,000 after acquiring an additional 71,927 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in Magna International by 14.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company's stock worth $46,486,000 after purchasing an additional 107,150 shares during the last quarter. QV Investors Inc. lifted its holdings in Magna International by 33.3% in the 3rd quarter. QV Investors Inc. now owns 739,472 shares of the company's stock worth $47,220,000 after purchasing an additional 184,631 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Magna International by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 487,633 shares of the company's stock worth $27,215,000 after buying an additional 13,439 shares during the period. Hedge funds and other institutional investors own 67.49% of the company's stock.

Magna International Price Performance

MGA opened at $63.01 on Wednesday. Magna International Inc. has a one year low of $45.33 and a one year high of $73.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.14 and a quick ratio of 0.88. The company's 50 day simple moving average is $64.79 and its 200-day simple moving average is $62.73. The stock has a market capitalization of $16.36 billion, a P/E ratio of 9.04, a price-to-earnings-growth ratio of 0.70 and a beta of 1.46.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its quarterly earnings results on Friday, October 30th. The company reported $1.83 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.25. The business had revenue of $9.86 billion during the quarter, compared to analyst estimates of $10.01 billion. Magna International had a net margin of 1.99% and a return on equity of 16.26%. Magna International's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 earnings per share. Sell-side analysts anticipate that Magna International Inc. will post 7.06 earnings per share for the current fiscal year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be paid a $0.4950 dividend. This represents a $1.98 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 13th. Magna International's dividend payout ratio (DPR) is 63.46%.

Analyst Upgrades and Downgrades

MGA has been the topic of several recent analyst reports. Barclays lifted their target price on shares of Magna International from $68.00 to $70.00 and gave the stock an "equal weight" rating in a report on Friday, October 9th. Weiss Ratings reissued a "hold (c+)" rating on shares of Magna International in a research report on Tuesday, October 27th. Wall Street Zen cut Magna International from a "buy" rating to a "hold" rating in a research report on Saturday. Royal Bank Of Canada lowered their price objective on shares of Magna International from $68.00 to $66.00 and set a "sector perform" rating on the stock in a research note on Monday. Finally, BMO Capital Markets lowered shares of Magna International from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $76.00 to $70.00 in a research report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $68.73.

Magna International Profile

Magna International Inc is a global automotive supplier headquartered in Aurora, Ontario, Canada. The company designs, engineers and manufactures components and systems for automakers, serving vehicle manufacturers across North America, Europe and Asia.

Its products and services span several automotive categories, including body and chassis structures, exterior systems, powertrain and driveline components, seating, vehicle electronics, lighting, mirrors, and advanced driver assistance technologies.

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