QV Investors Inc. Reduces Holdings in Magna International Inc. (NYSE:MGA)

QV Investors Inc. trimmed its position in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 647,465 shares of the company's stock after selling 11,302 shares during the period. Magna International makes up approximately 2.2% of QV Investors Inc.'s holdings, making the stock its 12th biggest holding. QV Investors Inc. owned 0.23% of Magna International worth $22,003,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. ARGA Investment Management LP lifted its position in Magna International by 158.1% during the 4th quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company's stock worth $107,049,000 after acquiring an additional 1,568,953 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Magna International by 52.3% in the fourth 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of Magna International by 32.2% during the fourth quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company's stock worth $63,280,000 after purchasing an additional 371,437 shares during the period. Mufg Securities Canada LTD. lifted its holdings in shares of Magna International by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company's stock worth $17,228,000 after purchasing an additional 172,754 shares during the period. Finally, Jones Financial Companies Lllp boosted its position 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 buying an additional 29,567 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Magna International Price Performance

Shares of MGA stock traded up $0.83 during trading hours on Tuesday, hitting $36.36. 1,425,589 shares of the company's stock were exchanged, compared to its average volume of 1,734,296. Magna International Inc. has a fifty-two week low of $30.39 and a fifty-two week high of $47.22. The firm has a market cap of $10.24 billion, a P/E ratio of 10.36, a P/E/G ratio of 0.63 and a beta of 1.52. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $34.23 and a two-hundred day moving average of $38.32.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate 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 return on equity of 12.78% and a net margin of 2.36%. Magna International's revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS. Sell-side analysts forecast that Magna International Inc. will post 5.87 EPS for the current year.

Magna International Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MGA. Raymond James reduced their price target on shares of Magna International from $53.00 to $50.00 and set a "market perform" rating for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group decreased their target price on shares of Magna International from $38.00 to $31.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Morgan Stanley lowered their price target on shares of Magna International from $40.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Wall Street Zen upgraded Magna International from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Finally, Evercore ISI lowered their target price on Magna International from $50.00 to $45.00 and set an "in-line" rating on the stock in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Magna International currently has an average 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.