Magna International Inc. $MGA Stock Bought by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management increased its Magna International position by 51.9% in the third quarter, owning 194,740 shares valued at approximately $12.4 million. Institutional investors collectively hold 67.49% of the company.
• Analysts maintain a consensus “Hold” rating on Magna, with an average price target of $69.13; targets range from $67 to $78.
• Magna reported quarterly EPS of $1.86, beating estimates of $1.53, while revenue rose 3.3% year over year to $10.84 billion. The company also pays an annualized dividend of $1.98 per share, yielding about 3.0%.

Triasima Portfolio Management inc. lifted its position in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 51.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 194,740 shares of the company's stock after buying an additional 66,500 shares during the quarter. Magna International makes up 1.6% of Triasima Portfolio Management inc.'s investment portfolio, making the stock its 19th largest position. Triasima Portfolio Management inc. owned about 0.07% of Magna International worth $12,435,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in shares of Magna International by 7.2% during the third quarter. Farther Finance Advisors LLC now owns 15,008 shares of the company's stock valued at $956,000 after buying an additional 1,003 shares during the period. Veracity Capital LLC acquired a new stake in Magna International during the third quarter worth approximately $286,000. Steph & Co. grew its stake in Magna International by 2.1% in the 3rd quarter. Steph & Co. now owns 8,373 shares of the company's stock worth $533,000 after acquiring an additional 172 shares during the period. Versant Capital Management Inc grew its stake in Magna International by 53.9% in the 3rd quarter. Versant Capital Management Inc now owns 1,171 shares of the company's stock worth $75,000 after acquiring an additional 410 shares during the period. Finally, Andra AP fonden grew its stake in Magna International by 1.1% in the 2nd quarter. Andra AP fonden now owns 28,200 shares of the company's stock worth $1,852,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 67.49% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MGA. BMO Capital Markets reiterated a "market perform" rating and issued a $70.00 price target (down from $76.00) on shares of Magna International in a report on Friday, September 18th. Wall Street Zen cut Magna International from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 12th. Morgan Stanley decreased their price objective on Magna International from $69.00 to $68.00 and set an "equal weight" rating on the stock in a report on Thursday. Scotiabank lifted their price objective on Magna International from $74.00 to $78.00 and gave the company a "sector outperform" rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company lifted their price objective on Magna International from $62.00 to $67.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $69.13.

Magna International Trading Up 2.9%

Shares of MGA stock opened at $66.33 on Friday. The firm has a market cap of $17.57 billion, a P/E ratio of 9.55, a PEG ratio of 0.68 and a beta of 1.46. Magna International Inc. has a 1-year low of $44.33 and a 1-year high of $73.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88. The firm's 50-day simple moving average is $66.28 and its 200-day simple moving average is $64.48.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The business had revenue of $10.84 billion for the quarter, compared to analysts' expectations of $10.63 billion. During the same period last year, the company earned $1.44 earnings per share. The company's quarterly revenue was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, equities analysts forecast that Magna International Inc. will post 7.06 EPS for the current year.

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $0.4950 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.98 dividend on an annualized basis and a yield of 3.0%. Magna International's dividend payout ratio (DPR) is currently 71.74%.

Magna International Company Profile

Magna International Inc is a Canadian global automotive supplier that designs, engineers and manufactures systems and components for automakers. Its product portfolio includes vehicle body and exterior systems, seating, powertrain and drivetrain components, electronics, lighting, mirrors, roof systems and advanced driver-assistance technologies.

The company also provides complete vehicle engineering and manufacturing services, supporting automakers from product development through assembly.

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