Systematic Financial Management LP Purchases 8,100 Shares of Magna International Inc. (NYSE:MGA)

Systematic Financial Management LP lifted its position in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 19.9% during the fourth quarter, according to the company in its most recent filing with the Securities & 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.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Avior Wealth Management LLC increased its stake in Magna International by 2,400.0% during the 4th 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 fourth quarter. LRI Investments LLC now owns 757 shares of the company's stock valued at $32,000 after purchasing an additional 723 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Magna International during the fourth quarter worth about $33,000. Lindbrook Capital LLC raised its position in Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock worth $43,000 after buying an additional 312 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Magna International by 37.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company's stock valued at $46,000 after acquiring an additional 301 shares during the period. Hedge funds and other institutional investors own 67.49% of the company's stock.

Magna International Stock Performance

Shares of NYSE MGA traded down $0.36 during midday trading on Friday, hitting $35.31. 288,164 shares of the company's stock were exchanged, compared to its average volume of 1,757,769. The firm has a market cap of $9.95 billion, a P/E ratio of 10.05, a PEG ratio of 0.63 and a beta of 1.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77. Magna International Inc. has a twelve month low of $30.39 and a twelve month high of $47.22. The stock's 50 day moving average price is $34.36 and its 200-day moving average price is $38.76.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). Magna International had a net margin of 2.36% and a return on equity of 12.78%. The company had revenue of $9.68 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same quarter last year, the company posted $1.08 EPS. Magna International's revenue was down 8.2% on a year-over-year basis. Equities research analysts anticipate that Magna International Inc. will post 5.87 EPS for the current year.

Magna International Announces Dividend

The business also recently announced 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. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date is Friday, May 16th. Magna International's dividend payout ratio (DPR) is currently 48.50%.

Analyst Ratings Changes

MGA has been the subject of a number of analyst reports. Royal Bank of Canada decreased their price target on Magna International from $32.00 to $31.00 and set a "sector perform" rating for the company in a report on Tuesday, May 6th. Raymond James lowered their price objective on Magna International from $53.00 to $50.00 and set a "market perform" rating on the stock in a report on Tuesday, February 18th. Evercore ISI dropped their price objective on shares of Magna International from $50.00 to $45.00 and set an "in-line" rating for the company in a research note on Tuesday, February 18th. Barclays dropped their price objective on shares of Magna International from $47.00 to $37.00 and set an "equal weight" rating for the company in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group cut their target price on Magna International from $38.00 to $31.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently 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.