Sumitomo Mitsui Trust Group Inc. trimmed its position in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 10.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,271 shares of the company's stock after selling 11,124 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in Magna International were worth $3,204,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of MGA. Bank of New York Mellon Corp lifted 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 worth $10,000,000 after acquiring an additional 14,441 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Magna International in the fourth quarter worth about $213,000. Lindbrook Capital LLC lifted its holdings in Magna International by 43.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock worth $43,000 after acquiring an additional 312 shares during the last quarter. 1620 Investment Advisors Inc. lifted its holdings in Magna International by 3.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company's stock worth $328,000 after acquiring an additional 276 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new position in Magna International in the fourth quarter worth about $33,000. Institutional investors own 67.49% of the company's stock.
Magna International Price Performance
NYSE:MGA traded up $0.72 during midday trading on Tuesday, hitting $41.63. 1,304,842 shares of the stock were exchanged, compared to its average volume of 1,743,795. Magna International Inc. has a one year low of $30.39 and a one year high of $47.22. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 10.41, a P/E/G ratio of 0.74 and a beta of 1.50. The business has a 50-day moving average price of $36.99 and a two-hundred day moving average price of $37.27. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of 0.32.
Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its 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 firm had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.66 billion. Magna International had a return on equity of 11.96% and a net margin of 2.73%. Magna International's revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 EPS. Sell-side analysts predict that Magna International Inc. will post 5.87 EPS for the current year.
Magna International Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.485 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.94 annualized dividend and a yield of 4.66%. Magna International's dividend payout ratio (DPR) is 48.50%.
Wall Street Analysts Forecast Growth
MGA has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on shares of Magna International from $37.00 to $38.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. TD Securities lifted their price target on Magna International from $44.00 to $45.00 and gave the company a "buy" rating in a report on Monday, May 5th. Wall Street Zen raised Magna International from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Morgan Stanley cut their price target on Magna International from $40.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Finally, CIBC lifted their price target on Magna International from $33.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $41.44.
View Our Latest Research Report on Magna International
About Magna International
(
Free Report)
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.
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