Magna International (TSE:MG) Insider Sells C$476,100.00 in Stock

Key Points

• Insider sale: Bruce Cluney sold 5,000 Magna International shares at C$95.22 each for total proceeds of C$476,100, reducing his position by 11.05% to 40,239 shares.
• Stock and earnings: Magna shares rose 1.0% to C$99.66, near their 52-week high of C$101.10. The company reported quarterly EPS of C$2.64 on revenue of C$15.60 billion.
• Dividend and analyst outlook: Magna declared a quarterly dividend of C$0.495 per share, representing a 2.0% yield, while analysts maintain an overall “Strong Buy” rating.

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA insider Bruce Cluney sold 5,000 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of C$95.22, for a total transaction of C$476,100.00. Following the transaction, the insider owned 40,239 shares of the company's stock, valued at approximately C$3,831,557.58. The trade was a 11.05% decrease in their position.

Magna International Stock Up 1.0%

TSE:MG traded up C$1.00 during trading hours on Wednesday, hitting C$99.66. The company's stock had a trading volume of 564,408 shares, compared to its average volume of 1,326,834. Magna International Inc. has a 52-week low of C$57.31 and a 52-week high of C$101.10. The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 15.82. The stock has a market capitalization of C$27.55 billion, a P/E ratio of 36.64, a price-to-earnings-growth ratio of 0.45 and a beta of 2.13. The stock has a fifty day moving average of C$92.85 and a 200-day moving average of C$84.83.

Magna International (TSE:MG - Get Free Report) NYSE: MGA last announced its quarterly earnings results on Friday, July 31st. The company reported C$2.64 earnings per share (EPS) for the quarter. The company had revenue of C$15.60 billion during the quarter. Magna International had a return on equity of 6.15% and a net margin of 1.77%. On average, equities analysts forecast that Magna International Inc. will post 8.8948171 earnings per share for the current year.

Magna International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 28th will be paid a dividend of $0.495 per share. The ex-dividend date is Friday, August 14th. This represents a $1.98 annualized dividend and a yield of 2.0%. Magna International's payout ratio is presently 72.06%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Veritas upgraded shares of Magna International to a "strong-buy" rating in a research note on Monday, May 4th. Scotiabank upgraded shares of Magna International from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Strong Buy".

About Magna International

Magna is one of the world's largest automotive suppliers and a trusted partner to automakers in the industry's most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source