Magna International Inc. $MGA Stock Holdings Lowered by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. sold 1,078,525 shares of Magna International Inc., reducing its stake by 17.1% to approximately $177.36 million as of the end of the first quarter.
• Analysts have generally positive views on Magna International, with price targets raised by firms such as JPMorgan Chase and TD Securities, indicating a consensus target price of $42.86.
• Magna International reported a 4.2% increase in stock price recently and posted $1.44 EPS for the last quarter, beating analyst expectations significantly.

Price T Rowe Associates Inc. MD lessened its holdings in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 17.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,217,816 shares of the company's stock after selling 1,078,525 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.85% of Magna International worth $177,355,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. LRI Investments LLC grew its stake in Magna International by 2,126.5% during the fourth quarter. LRI Investments LLC now owns 757 shares of the company's stock worth $32,000 after buying an additional 723 shares during the period. Versant Capital Management Inc purchased a new stake in Magna International during the 1st quarter worth $27,000. Cromwell Holdings LLC boosted its position in Magna International by 131.6% during the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock worth $28,000 after purchasing an additional 466 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Magna International by 507.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company's stock valued at $51,000 after purchasing an additional 1,253 shares in the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new position in Magna International in the first quarter valued at about $99,000. Hedge funds and other institutional investors own 67.49% of the company's stock.

Magna International Price Performance

MGA traded down $0.06 on Friday, reaching $45.89. The company had a trading volume of 552,842 shares, compared to its average volume of 1,743,787. The company has a market capitalization of $12.93 billion, a P/E ratio of 10.77, a PEG ratio of 1.04 and a beta of 1.51. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The company has a fifty day moving average of $42.15 and a 200-day moving average of $37.93. Magna International Inc. has a one year low of $30.39 and a one year high of $47.22.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its quarterly earnings results on Friday, August 1st. The company reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.25. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The company had revenue of $10.82 billion during the quarter, compared to analyst estimates of $10.10 billion. During the same period in the prior year, the business posted $1.35 EPS. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. Magna International has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Magna International Inc. will post 5.87 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, August 15th. This represents a $1.94 annualized dividend and a dividend yield of 4.2%. Magna International's dividend payout ratio (DPR) is 45.54%.

Wall Street Analyst Weigh In

MGA has been the subject of several analyst reports. Bank of America upped their target price on Magna International from $42.00 to $45.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. BMO Capital Markets decreased their price target on Magna International from $47.00 to $41.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Wall Street Zen raised shares of Magna International from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of Magna International from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, UBS Group upped their target price on shares of Magna International from $37.00 to $45.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $43.50.

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.