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

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

Several other hedge funds have also bought and sold shares of the company. LRI Investments LLC raised its holdings in Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company's stock valued at $32,000 after acquiring an additional 723 shares during the period. Versant Capital Management Inc bought a new position in Magna International in the 1st quarter valued at about $27,000. Millstone Evans Group LLC bought a new position in Magna International in the 4th quarter valued at about $33,000. Lindbrook Capital LLC raised its holdings in Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock valued at $43,000 after acquiring an additional 312 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in Magna International by 290.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,501 shares of the company's stock valued at $141,000 after acquiring an additional 2,605 shares during the period. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MGA shares. The Goldman Sachs Group lowered their target price on shares of Magna International from $38.00 to $31.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company raised their target price on shares of Magna International from $32.00 to $37.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Wall Street Zen raised shares of Magna International from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Royal Bank Of Canada lowered their target price on shares of Magna International from $32.00 to $31.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 6th. Finally, TD Securities lifted their price objective on shares of Magna International from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $41.38.

Magna International Stock Down 1.1%

Shares of NYSE:MGA traded down $0.42 during midday trading on Friday, hitting $37.21. 1,048,161 shares of the company's stock were exchanged, compared to its average volume of 1,738,325. Magna International Inc. has a 12 month low of $30.39 and a 12 month high of $47.22. The company has a market cap of $10.48 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 0.65 and a beta of 1.50. The stock has a 50 day moving average price of $35.44 and a 200-day moving average price of $37.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.06 and a quick ratio of 0.74.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its 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%. The firm's revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 earnings per share. On average, sell-side analysts anticipate that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date was Friday, May 16th. Magna International's payout ratio is 48.50%.

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.