Magna International Inc. (NYSE:MGA) Stock Holdings Boosted by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its position in Magna International Inc. (NYSE:MGA) (TSE:MG) by 35.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,102,786 shares of the company’s stock after purchasing an additional 289,105 shares during the quarter. Russell Investments Group Ltd. owned about 0.38% of Magna International worth $60,118,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Magna International by 0.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock valued at $56,325,000 after acquiring an additional 2,727 shares in the last quarter. QV Investors Inc. grew its holdings in Magna International by 1.0% during the first quarter. QV Investors Inc. now owns 667,151 shares of the company’s stock worth $36,378,000 after acquiring an additional 6,895 shares during the period. Azimuth Capital Investment Management LLC grew its holdings in Magna International by 39.4% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after acquiring an additional 53,695 shares during the period. Janney Montgomery Scott LLC raised its position in Magna International by 5.8% in the first quarter. Janney Montgomery Scott LLC now owns 157,353 shares of the company’s stock worth $8,573,000 after acquiring an additional 8,680 shares in the last quarter. Finally, Lorne Steinberg Wealth Management Inc. grew its stake in shares of Magna International by 3.2% in the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 73,662 shares of the company’s stock worth $4,014,000 after purchasing an additional 2,304 shares during the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Citigroup decreased their target price on Magna International from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Evercore ISI lowered their target price on Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday. Morgan Stanley reduced their price target on shares of Magna International from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. CIBC cut their target price on shares of Magna International from $59.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, Scotiabank decreased their target price on shares of Magna International from $59.00 to $55.00 and set a “sector perform” rating for the company in a research note on Monday, May 6th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $54.88.

Magna International Trading Up 0.2 %

NYSE MGA traded up $0.07 on Wednesday, reaching $45.87. The company had a trading volume of 302,162 shares, compared to its average volume of 1,561,401. The company has a quick ratio of 0.76, a current ratio of 1.09 and a debt-to-equity ratio of 0.38. The stock has a market cap of $13.18 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 0.57 and a beta of 1.59. The stock’s 50 day moving average is $44.21 and its 200-day moving average is $50.30. Magna International Inc. has a 52 week low of $40.83 and a 52 week high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, May 3rd. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.18). Magna International had a return on equity of 12.96% and a net margin of 2.35%. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.97 billion. During the same quarter last year, the business posted $1.11 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts predict that Magna International Inc. will post 5.83 earnings per share for the current year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.90 annualized dividend and a yield of 4.14%. Magna International’s dividend payout ratio (DPR) is presently 53.98%.

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.