Public Employees Retirement System of Ohio Purchases 60,432 Shares of Magna International Inc. $MGA

Public Employees Retirement System of Ohio increased its position in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 43.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 199,358 shares of the company's stock after purchasing an additional 60,432 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.07% of Magna International worth $11,095,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Magna International by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company's stock worth $128,774,000 after purchasing an additional 154,710 shares during the period. Russell Investments Group Ltd. raised its holdings in Magna International by 7.8% in the fourth quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company's stock worth $111,549,000 after purchasing an additional 151,819 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in Magna International by 14.8% during the first quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company's stock valued at $46,486,000 after buying an additional 107,150 shares during the period. Mediolanum International Funds Ltd lifted its position in Magna International by 83.1% during the first quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company's stock valued at $7,210,000 after buying an additional 61,151 shares during the period. Finally, ARGA Investment Management LP boosted its holdings in shares of Magna International by 1.1% during the 4th quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company's stock valued at $223,512,000 after buying an additional 44,996 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MGA. Citigroup upped their target price on shares of Magna International from $58.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. Veritas raised shares of Magna International to a "strong-buy" rating in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce dropped their price objective on shares of Magna International to $74.00 in a research note on Monday, May 4th. UBS Group upped their price objective on shares of Magna International from $62.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, Wells Fargo & Company decreased their target price on shares of Magna International from $69.00 to $59.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $65.73.

Magna International Price Performance

Shares of NYSE:MGA opened at $65.63 on Monday. The business has a fifty day moving average price of $65.10 and a 200-day moving average price of $60.62. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88. The company has a market capitalization of $17.55 billion, a PE ratio of 27.46, a PEG ratio of 0.90 and a beta of 1.44. Magna International Inc. has a 1-year low of $40.51 and a 1-year high of $69.94.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings results on Friday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.37. Magna International had a net margin of 1.60% and a return on equity of 14.01%. The company had revenue of $10.13 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same quarter in the previous year, the business posted $0.78 EPS. Magna International's revenue was up 3.1% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, equities analysts expect that Magna International Inc. will post 6.82 EPS for the current fiscal year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, May 15th. Magna International's dividend payout ratio is currently 82.85%.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna's broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.

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