Magna International Inc. (NYSE:MGA) Shares Sold by QV Investors Inc.

QV Investors Inc. lowered its stake in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 647,465 shares of the company's stock after selling 11,302 shares during the period. Magna International makes up 2.2% of QV Investors Inc.'s investment portfolio, making the stock its 12th biggest holding. QV Investors Inc. owned about 0.23% of Magna International worth $22,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MGA. Mufg Securities Canada LTD. lifted its holdings in shares of Magna International by 72.1% during the 4th quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company's stock worth $17,228,000 after acquiring an additional 172,754 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 valued at $4,719,000 after purchasing an additional 29,567 shares during the period. Bank of New York Mellon Corp grew its stake in 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 acquiring an additional 14,441 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Magna International by 52.3% during the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company's stock worth $100,087,000 after purchasing an additional 822,375 shares during the period. Finally, ARGA Investment Management LP raised its holdings in shares of Magna International by 158.1% in the 4th quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company's stock valued at $107,049,000 after purchasing an additional 1,568,953 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company's stock.

Magna International Stock Performance

NYSE MGA traded down $0.01 during trading on Thursday, reaching $36.23. The company's stock had a trading volume of 244,749 shares, compared to its average volume of 1,724,509. The firm has a 50 day moving average price of $34.30 and a 200 day moving average price of $38.29. The firm has a market capitalization of $10.21 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 0.63 and a beta of 1.52. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. 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 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 2.36% and a return on equity of 12.78%. 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. As a group, equities analysts anticipate that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a dividend of $0.485 per share. The ex-dividend date was Friday, May 16th. This represents a $1.94 dividend on an annualized basis and a yield of 5.35%. Magna International's dividend payout ratio is currently 48.50%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Bank of America cut shares of Magna International from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $52.00 to $48.00 in a research report on Tuesday, March 4th. Raymond James decreased their price target on shares of Magna International from $53.00 to $50.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 18th. Veritas raised shares of Magna International to a "hold" rating in a research report on Thursday, April 24th. CIBC upped their price objective on shares of Magna International from $33.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Finally, Barclays dropped their target price 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 issued a buy rating to the company. According to data from MarketBeat.com, Magna International has a consensus rating of "Hold" and a consensus target price of $41.56.

About Magna International

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.