United Services Automobile Association Invests $305,000 in Magna International Inc. $MGA

Key Points

• United Services Automobile Association acquired 8,968 shares of Magna International, valuing the stake at approximately $305,000.
• Magna International reported $1.44 earnings per share for the last quarter, exceeding expectations and showing a net margin of 2.91%.
• The company announced a quarterly dividend of $0.485 per share, resulting in an annualized dividend yield of 4.2%.

United Services Automobile Association bought a new stake in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,968 shares of the company's stock, valued at approximately $305,000.

Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc bought a new stake in shares of Magna International in the first quarter valued at $27,000. Cromwell Holdings LLC raised its stake in shares of Magna International by 131.6% in the first quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock valued at $28,000 after buying an additional 466 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Magna International by 507.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company's stock valued at $51,000 after buying an additional 1,253 shares during the period. Atlas Capital Advisors Inc. bought a new stake in shares of Magna International in the first quarter valued at $99,000. Finally, Integrated Wealth Concepts LLC raised its stake in shares of Magna International by 19.8% in the first quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company's stock valued at $231,000 after buying an additional 1,123 shares during the period. 67.49% of the stock is currently owned by institutional investors.

Magna International Price Performance

Shares of Magna International stock traded up $0.48 during trading on Monday, hitting $46.86. The stock had a trading volume of 1,348,903 shares, compared to its average volume of 1,350,649. The firm has a market cap of $13.21 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 1.04 and a beta of 1.53. Magna International Inc. has a 12 month low of $30.39 and a 12 month high of $47.22. The business's 50-day moving average is $43.77 and its 200 day moving average is $38.58. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39.

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

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, August 15th. Magna International's payout ratio is currently 45.54%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Evercore ISI boosted their target price on Magna International from $37.00 to $40.00 and gave the company an "in-line" rating in a research note on Monday, August 4th. Cfra Research raised Magna International to a "hold" rating in a report on Monday, August 4th. Wells Fargo & Company raised their price target on Magna International from $37.00 to $38.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. TD Securities raised their price target on Magna International from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada raised their price target on Magna International from $38.00 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, August 22nd. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Magna International currently 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.