Tidal Investments LLC Boosts Stock Position in Magna International Inc. $MGA

Key Points

• Tidal Investments increased its Magna International stake by 57.4% in the second quarter, bringing its holdings to 55,783 shares valued at approximately $3.66 million. Institutional investors collectively own 67.49% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $68.20, although targets range from $64 to $77 and JPMorgan has an “overweight” rating.
• Magna exceeded quarterly expectations, reporting $1.86 in EPS and $10.84 billion in revenue, while revenue rose 3.3% year over year. The company also pays a quarterly dividend of $0.495, yielding about 3.1% annually.

Tidal Investments LLC raised its stake in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 57.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,783 shares of the company's stock after buying an additional 20,347 shares during the quarter. Tidal Investments LLC's holdings in Magna International were worth $3,663,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in shares of Magna International in the 2nd quarter worth $28,495,000. TD Waterhouse Canada Inc. increased its position in Magna International by 10.7% during the second quarter. TD Waterhouse Canada Inc. now owns 2,130,562 shares of the company's stock valued at $134,577,000 after acquiring an additional 206,433 shares during the last quarter. Geode Capital Management LLC increased its position in Magna International by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company's stock valued at $128,774,000 after acquiring an additional 154,710 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Magna International in the second quarter worth about $9,160,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Magna International during the 2nd quarter valued at about $7,473,000. Institutional investors own 67.49% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MGA. Royal Bank Of Canada lifted their price target on shares of Magna International from $66.00 to $69.00 and gave the stock a "sector perform" rating in a research note on Monday, August 3rd. Morgan Stanley upped their price objective on Magna International from $65.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. raised their target price on Magna International from $70.00 to $77.00 and gave the stock an "overweight" rating in a report on Monday, August 10th. Wells Fargo & Company lifted their target price on Magna International from $62.00 to $67.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Finally, UBS Group increased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $68.20.

Magna International Price Performance

MGA stock opened at $64.89 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22. The company's fifty day moving average price is $67.50 and its 200-day moving average price is $63.43. Magna International Inc. has a one year low of $43.11 and a one year high of $73.22. The company has a market capitalization of $17.19 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The company had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the previous year, the firm posted $1.44 EPS. Magna International's revenue for the quarter was up 3.3% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, equities analysts anticipate that Magna International Inc. will post 7.06 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, August 14th. Magna International's dividend payout ratio (DPR) is presently 71.74%.

Magna International Company Profile

Magna International Inc is a Canadian global automotive supplier headquartered in Aurora, Ontario. The company develops and manufactures components, systems and technologies for automakers, serving both traditional internal-combustion vehicle programs and electric-vehicle platforms.

Its principal business areas include body and exterior systems, structures and exteriors, powertrain and driveline systems, seating, electronic systems, advanced driver-assistance technologies and vehicle access systems.

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