Magna International Inc. (NYSE:MGA) Stake Reduced by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its position in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 813,681 shares of the company's stock after selling 113,694 shares during the period. Russell Investments Group Ltd. owned 0.28% of Magna International worth $48,251,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. S.A. Mason LLC increased its position in 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 purchasing an additional 229 shares during the period. Van ECK Associates Corp increased its position in shares of Magna International by 9.6% during the third quarter. Van ECK Associates Corp now owns 3,576 shares of the company's stock worth $192,000 after purchasing an additional 312 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company's stock worth $40,000 after purchasing an additional 526 shares in the last quarter. Manning & Napier Group LLC grew its stake in Magna International by 1.6% during the 3rd quarter. Manning & Napier Group LLC now owns 42,789 shares of the company's stock worth $2,294,000 after buying an additional 654 shares during the last quarter. Finally, DGS Capital Management LLC raised its stake in Magna International by 18.1% in the fourth quarter. DGS Capital Management LLC now owns 8,973 shares of the company's stock valued at $530,000 after buying an additional 1,378 shares during the last quarter. Institutional investors own 67.49% of the company's stock.

Magna International Stock Performance

MGA stock traded down $1.58 on Tuesday, hitting $47.80. The company's stock had a trading volume of 1,902,012 shares, compared to its average volume of 1,369,229. Magna International Inc. has a 1 year low of $46.71 and a 1 year high of $65.27. 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 stock has a market cap of $13.73 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.49 and a beta of 1.69. The firm has a 50 day moving average of $52.55 and a two-hundred day moving average of $54.08.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings data on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.13). Magna International had a net margin of 2.83% and a return on equity of 13.15%. 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 prior year, the firm posted $0.91 earnings per share. The business's quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that Magna International Inc. will post 6.13 EPS for the current fiscal year.

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a dividend of $0.475 per share. This is an increase from Magna International's previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Thursday, February 22nd. Magna International's payout ratio is currently 45.02%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays dropped their target price on shares of Magna International from $63.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 11th. BMO Capital Markets dropped their target price on Magna International from $67.00 to $65.00 and set an "outperform" rating on the stock in a report on Monday, February 12th. The Goldman Sachs Group downgraded Magna International from a "buy" rating to a "neutral" rating and decreased their price target for the company from $73.00 to $58.00 in a report on Wednesday, January 3rd. Royal Bank of Canada decreased their target price on shares of Magna International from $61.00 to $60.00 and set a "sector perform" rating for the company in a research note on Monday, February 12th. Finally, Raymond James dropped their target price on Magna International from $62.00 to $60.00 and set a "market perform" rating on the stock in a research report on Monday, February 12th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Magna International presently has an average rating of "Hold" and an average price target of $62.50.

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.