Janney Montgomery Scott LLC Increases Position in Magna International Inc. (NYSE:MGA)

Janney Montgomery Scott LLC grew its stake in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 19.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 251,832 shares of the company's stock after buying an additional 41,811 shares during the quarter. Janney Montgomery Scott LLC owned 0.09% of Magna International worth $8,560,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MGA. Bank of New York Mellon Corp increased its holdings in Magna International by 6.4% in 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 buying an additional 14,441 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Magna International by 35.5% in the fourth quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company's stock valued at $4,719,000 after purchasing an additional 29,567 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Magna International in the fourth quarter valued at approximately $213,000. Lindbrook Capital LLC increased its position in shares of Magna International by 43.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock valued at $43,000 after buying an additional 312 shares in the last quarter. Finally, 1620 Investment Advisors Inc. raised its stake in shares of Magna International by 3.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company's stock worth $328,000 after buying an additional 276 shares during the period. Hedge funds and other institutional investors own 67.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. BMO Capital Markets decreased their price objective on Magna International from $47.00 to $41.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Barclays dropped their target price on shares of Magna International from $47.00 to $37.00 and set an "equal weight" rating for the company in a report on Tuesday, April 15th. Morgan Stanley decreased their price target on shares of Magna International from $40.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Veritas upgraded Magna International to a "hold" rating in a report on Thursday, April 24th. Finally, CIBC boosted their target price on Magna International from $33.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $41.38.

Magna International Stock Up 0.6%

Shares of NYSE:MGA traded up $0.23 during trading on Tuesday, hitting $37.62. 1,436,907 shares of the company were exchanged, compared to its average volume of 1,733,307. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.06 and a quick ratio of 0.74. The firm's 50 day moving average price is $35.54 and its 200-day moving average price is $37.54. The stock has a market capitalization of $10.60 billion, a P/E ratio of 9.40, a PEG ratio of 0.65 and a beta of 1.50. Magna International Inc. has a 12-month low of $30.39 and a 12-month high of $47.22.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings results on Friday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). The company had revenue of $9.68 billion during the quarter, compared to analysts' expectations of $9.66 billion. Magna International had a net margin of 2.73% and a return on equity of 11.96%. Magna International's revenue was down 8.2% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. On average, research analysts predict that Magna International Inc. will post 5.87 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend was Friday, May 16th. Magna International's payout ratio is currently 48.50%.

Magna International Company 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.