Public Employees Retirement System of Ohio Acquires 25,142 Shares of Magna International Inc. (NYSE:MGA)

Public Employees Retirement System of Ohio boosted its holdings in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 99.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,462 shares of the company's stock after purchasing an additional 25,142 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Magna International were worth $2,108,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MGA. ARGA Investment Management LP grew its position in shares of Magna International by 158.1% during the 4th quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company's stock valued at $107,049,000 after buying an additional 1,568,953 shares during the last quarter. Entropy Technologies LP acquired a new position in Magna International in the fourth quarter valued at approximately $256,000. Bank of New York Mellon Corp grew its holdings in shares of Magna International by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 239,280 shares of the company's stock valued at $10,000,000 after purchasing an additional 14,441 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Magna International by 35.5% during the 4th quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company's stock worth $4,719,000 after purchasing an additional 29,567 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Magna International during the 4th quarter worth approximately $213,000. Institutional investors own 67.49% of the company's stock.

Magna International Price Performance

NYSE:MGA traded up $0.83 during mid-day trading on Tuesday, reaching $36.36. 1,425,589 shares of the stock were exchanged, compared to its average volume of 1,734,296. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average price of $34.23 and a 200 day moving average price of $38.32. Magna International Inc. has a 1-year low of $30.39 and a 1-year high of $47.22. The firm has a market capitalization of $10.24 billion, a PE ratio of 10.36, a PEG ratio of 0.63 and a beta of 1.52.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings data on Friday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12). Magna International had a return on equity of 12.78% and a net margin of 2.36%. The company had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the prior year, the business earned $1.08 earnings per share. The business's revenue was down 8.2% compared to the same quarter last year. Research analysts expect that Magna International Inc. will post 5.87 earnings per share for the current fiscal year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.485 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.94 annualized dividend and a dividend yield of 5.34%. Magna International's dividend payout ratio (DPR) is presently 48.50%.

Analysts Set New Price Targets

A number of brokerages recently commented on MGA. Morgan Stanley lowered their price objective on 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. Bank of America cut shares of Magna International from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $52.00 to $48.00 in a report on Tuesday, March 4th. Veritas raised shares of Magna International to a "hold" rating in a research note on Thursday, April 24th. UBS Group decreased their target price on shares of Magna International from $41.00 to $34.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Barclays cut their price target on Magna International from $47.00 to $37.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $41.56.

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.