LRI Investments LLC Takes $36,000 Position in Magna International Inc. (NYSE:MGA)

LRI Investments LLC acquired a new stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 664 shares of the company’s stock, valued at approximately $36,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MGA. Quantbot Technologies LP bought a new stake in shares of Magna International in the 1st quarter worth approximately $1,009,000. Lorne Steinberg Wealth Management Inc. raised its position in shares of Magna International by 3.9% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 71,358 shares of the company’s stock worth $4,217,000 after purchasing an additional 2,646 shares during the last quarter. Forsta AP Fonden boosted its stake in Magna International by 20.4% in the 1st quarter. Forsta AP Fonden now owns 64,800 shares of the company’s stock worth $3,533,000 after purchasing an additional 11,000 shares in the last quarter. BNP Paribas Financial Markets grew its position in Magna International by 202.7% during the 1st quarter. BNP Paribas Financial Markets now owns 26,298 shares of the company’s stock valued at $1,433,000 after purchasing an additional 17,611 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Magna International by 0.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock valued at $56,325,000 after purchasing an additional 2,727 shares in the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MGA. BMO Capital Markets reduced their price target on shares of Magna International from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. National Bankshares decreased their price target on Magna International from $60.00 to $57.00 and set a “market perform” rating for the company in a research note on Monday, May 6th. The Goldman Sachs Group dropped their price objective on Magna International from $56.00 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Evercore ISI decreased their target price on Magna International from $60.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, July 15th. Finally, Barclays dropped their price target on shares of Magna International from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $53.82.

Magna International Stock Down 6.0 %

NYSE MGA opened at $40.43 on Friday. The stock has a market cap of $11.62 billion, a PE ratio of 11.48, a P/E/G ratio of 0.59 and a beta of 1.59. The company has a current ratio of 1.09, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. Magna International Inc. has a 12 month low of $40.11 and a 12 month high of $65.27. The stock’s 50 day moving average is $43.40 and its 200 day moving average is $49.21.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, August 2nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). The company had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $11.01 billion. Magna International had a net margin of 2.35% and a return on equity of 12.96%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.50 earnings per share. Research analysts predict that Magna International Inc. will post 5.68 EPS for the current fiscal year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 4.70%. The ex-dividend date is Friday, August 16th. Magna International’s dividend payout ratio is presently 53.98%.

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.