Magna International Inc. (NYSE:MGA) Stock Holdings Decreased by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. reduced its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 79,495 shares of the company’s stock after selling 2,950 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Magna International were worth $3,319,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in MGA. Avior Wealth Management LLC boosted its holdings in shares of Magna International by 2,400.0% during the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after purchasing an additional 600 shares during the period. Kennebec Savings Bank acquired a new stake in Magna International in the third quarter valued at approximately $32,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Magna International by 37.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after acquiring an additional 301 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Magna International by 88.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,113 shares of the company’s stock valued at $88,000 after acquiring an additional 992 shares during the last quarter. Finally, Arkadios Wealth Advisors acquired a new stake in Magna International in the third quarter valued at approximately $216,000. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on MGA. Raymond James reduced their target price on shares of Magna International from $53.00 to $50.00 and set a “market perform” rating for the company in a research note on Tuesday. TD Securities reduced their price objective on shares of Magna International from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday. The Goldman Sachs Group cut shares of Magna International from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $42.00 to $41.00 in a research note on Wednesday, December 11th. Royal Bank of Canada reduced their price objective on shares of Magna International from $52.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Scotiabank reduced their price objective on shares of Magna International from $49.00 to $45.00 and set a “sector perform” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $48.88.

Magna International Trading Up 0.5 %

Shares of MGA stock opened at $38.06 on Wednesday. Magna International Inc. has a 1 year low of $35.05 and a 1 year high of $56.12. The firm’s fifty day simple moving average is $40.99 and its 200 day simple moving average is $41.61. The firm has a market capitalization of $10.77 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 0.59 and a beta of 1.61. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. The business had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. Magna International had a net margin of 2.36% and a return on equity of 12.71%. Magna International’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.33 earnings per share. As a group, sell-side analysts predict that Magna International Inc. will post 6.1 EPS for the current year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Magna International’s previous quarterly dividend of $0.48. Magna International’s payout ratio is 54.13%.

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.