Systematic Financial Management LP Grows Position in Magna International Inc. (NYSE:MGA)

Systematic Financial Management LP boosted its position in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 19.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,845 shares of the company's stock after buying an additional 8,100 shares during the period. Systematic Financial Management LP's holdings in Magna International were worth $2,041,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC raised its stake in Magna International by 2,400.0% during the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock valued at $26,000 after purchasing an additional 600 shares in the last quarter. LRI Investments LLC increased its holdings in shares of Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company's stock worth $32,000 after buying an additional 723 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Magna International during the 4th quarter valued at about $33,000. Lindbrook Capital LLC grew its position 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 in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Magna International by 37.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company's stock worth $46,000 after acquiring an additional 301 shares during the last quarter. Institutional investors own 67.49% of the company's stock.

Magna International Stock Up 0.1%

Shares of NYSE MGA traded up $0.04 during trading hours on Thursday, hitting $35.65. 7,069,280 shares of the stock were exchanged, compared to its average volume of 1,760,253. The firm has a fifty day moving average price of $34.38 and a 200-day moving average price of $38.80. The company has a market cap of $10.04 billion, a PE ratio of 10.16, a PEG 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. 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 announced its earnings results on Friday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). Magna International had a net margin of 2.36% and a return on equity of 12.78%. The business had revenue of $9.68 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same period in the prior year, the company earned $1.08 earnings per share. The company's quarterly revenue was down 8.2% on a year-over-year basis. On average, sell-side analysts expect that Magna International Inc. will post 5.87 EPS for the current year.

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, May 16th. This represents a $1.94 dividend on an annualized basis and a yield of 5.44%. Magna International's payout ratio is 48.50%.

Analyst Ratings Changes

MGA has been the subject of a number of recent research reports. Wall Street Zen upgraded Magna International from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Morgan Stanley cut 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. Wells Fargo & Company raised their price objective on shares of Magna International from $32.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Monday. Bank of America cut Magna International from a "buy" rating to a "neutral" rating and cut their target price for the company from $52.00 to $48.00 in a research note on Tuesday, March 4th. Finally, Veritas raised Magna International to a "hold" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Magna International has an average rating of "Hold" and an average 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.