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

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

Other large investors have also modified their holdings of the company. 1620 Investment Advisors Inc. raised its position in shares of Magna International by 3.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company's stock worth $328,000 after purchasing an additional 276 shares during the period. Lindbrook Capital LLC grew its position in Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock worth $43,000 after purchasing an additional 312 shares in the last quarter. LRI Investments LLC grew its position in Magna International by 2,126.5% during the 4th quarter. LRI Investments LLC now owns 757 shares of the company's stock worth $32,000 after purchasing an additional 723 shares in the last quarter. Millstone Evans Group LLC purchased a new position in Magna International during the 4th quarter worth approximately $33,000. Finally, CIBC Private Wealth Group LLC grew its position in Magna International by 290.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,501 shares of the company's stock worth $141,000 after purchasing an additional 2,605 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company's stock.

Magna International Stock Performance

Shares of NYSE:MGA traded down $0.14 on Thursday, hitting $36.10. 1,195,345 shares of the company were exchanged, compared to its average volume of 1,731,893. The company's 50 day moving average price is $34.35 and its two-hundred day moving average price is $38.24. Magna International Inc. has a one year low of $30.39 and a one year high of $47.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 0.63 and a beta of 1.52.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.78 earnings per share (EPS) 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 quarter in the previous year, the firm posted $1.08 EPS. The business's revenue for the quarter 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 year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.94 annualized dividend and a dividend yield of 5.37%. Magna International's payout ratio is 48.50%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MGA shares. Wells Fargo & Company upped their target price on Magna International from $32.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. BMO Capital Markets dropped their target price on Magna International from $47.00 to $41.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. TD Securities upped their target price on Magna International from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. CIBC upped their target price on Magna International from $33.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Finally, Evercore ISI dropped their target price on Magna International from $50.00 to $45.00 and set an "in-line" rating on the stock in a research report on Tuesday, February 18th. One 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. Based on data from MarketBeat.com, the stock 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.