Magna International Inc. (NYSE:MGA) Shares Sold by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd lowered its holdings in Magna International Inc. (NYSE:MGA) (TSE:MG) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,496,860 shares of the company’s stock after selling 519,890 shares during the period. Magna International comprises about 1.8% of JARISLOWSKY FRASER Ltd’s investment portfolio, making the stock its 19th biggest holding. JARISLOWSKY FRASER Ltd owned about 2.65% of Magna International worth $312,065,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MGA. ARGA Investment Management LP boosted its position in shares of Magna International by 158.1% during the fourth quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock worth $107,049,000 after buying an additional 1,568,953 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Magna International by 52.3% in the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock worth $100,087,000 after acquiring an additional 822,375 shares during the last quarter. Geode Capital Management LLC raised its holdings in Magna International by 32.2% during the 4th quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock worth $63,280,000 after buying an additional 371,437 shares during the period. Mufg Securities Canada LTD. boosted its stake in Magna International by 72.1% in the 4th quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock worth $17,228,000 after purchasing an additional 172,754 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of Magna International by 35.5% in the fourth quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company’s stock worth $4,719,000 after buying an additional 29,567 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Magna International from $43.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Barclays decreased their target price on Magna International from $47.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 15th. CIBC increased their target price on Magna International from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. BMO Capital Markets decreased their price target on shares of Magna International from $47.00 to $41.00 and set an “outperform” rating on the stock in a research report on Monday, May 5th. Finally, TD Securities lifted their price target on shares of Magna International from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.13.

Magna International Trading Up 0.9 %

NYSE MGA opened at $34.82 on Friday. The stock has a market capitalization of $9.81 billion, a P/E ratio of 9.92, a P/E/G ratio of 0.63 and a beta of 1.52. Magna International Inc. has a one year low of $30.39 and a one year high of $48.18. The business has a 50 day simple moving average of $34.45 and a 200 day simple moving average of $39.07. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). Magna International had a return on equity of 12.78% and a net margin of 2.36%. The firm had revenue of $9.68 billion for the quarter, compared to analysts’ expectations of $9.66 billion. During the same period in the prior year, the firm earned $1.08 earnings per share. Magna International’s revenue was down 8.2% compared to the same quarter last year. Research analysts expect that Magna International Inc. will post 5.87 earnings per share for the current year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.485 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.94 annualized dividend and a dividend yield of 5.57%. Magna International’s payout ratio is currently 48.50%.

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.