Magna International Inc. (NYSE:MGA) Stake Lifted by QV Investors Inc.

QV Investors Inc. lifted its holdings in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 20.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 660,256 shares of the company's stock after acquiring an additional 113,332 shares during the quarter. Magna International makes up about 3.5% of QV Investors Inc.'s portfolio, making the stock its 9th biggest holding. QV Investors Inc. owned 0.23% of Magna International worth $39,202,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC bought a new stake in Magna International in the 4th quarter valued at $237,000. S.A. Mason LLC lifted its position in shares of Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company's stock valued at $69,000 after acquiring an additional 229 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Magna International by 332.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company's stock valued at $40,000 after acquiring an additional 526 shares during the period. Toronto Dominion Bank lifted its position in shares of Magna International by 8.7% during the 3rd quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company's stock valued at $105,430,000 after acquiring an additional 157,808 shares during the period. Finally, Natixis Advisors L.P. lifted its position in shares of Magna International by 243.3% during the 3rd quarter. Natixis Advisors L.P. now owns 50,803 shares of the company's stock valued at $2,724,000 after acquiring an additional 36,005 shares during the period. 67.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MGA has been the subject of a number of recent analyst reports. StockNews.com upgraded Magna International from a "hold" rating to a "buy" rating in a research report on Monday, February 26th. CIBC cut their target price on Magna International from $63.00 to $61.00 and set a "neutral" rating for the company in a research report on Monday, February 12th. Scotiabank cut their target price on Magna International from $62.00 to $59.00 and set a "sector perform" rating for the company in a research report on Monday, February 12th. Wells Fargo & Company cut their target price on Magna International from $60.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. lowered their price target on Magna International from $77.00 to $69.00 and set an "overweight" rating for the company in a report on Monday, February 12th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $63.93.

Magna International Price Performance

MGA traded down $0.12 on Friday, reaching $52.18. The stock had a trading volume of 1,829,289 shares, compared to its average volume of 1,226,252. Magna International Inc. has a fifty-two week low of $46.71 and a fifty-two week high of $65.27. The firm has a 50-day moving average of $54.67 and a 200-day moving average of $54.49. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $14.99 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 0.51 and a beta of 1.69.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its earnings results on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.46 by ($0.13). Magna International had a return on equity of 13.15% and a net margin of 2.83%. The firm had revenue of $10.45 billion during the quarter, compared to analyst estimates of $10.44 billion. During the same period in the previous year, the company earned $0.91 EPS. Magna International's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Magna International Inc. will post 6.14 EPS for the current year.

Magna International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Thursday, February 22nd. This is a boost from Magna International's previous quarterly dividend of $0.46. Magna International's dividend payout ratio is presently 45.02%.

Magna International Company 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.