IPG Investment Advisors LLC Sells 21,310 Shares of Magna International Inc. $MGA

IPG Investment Advisors LLC reduced its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 62.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 12,670 shares of the company’s stock after selling 21,310 shares during the quarter. IPG Investment Advisors LLC’s holdings in Magna International were worth $832,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in Magna International by 35.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after purchasing an additional 205 shares during the last quarter. Oslo Pensjonsforsikring AS acquired a new stake in shares of Magna International during the 1st quarter worth approximately $45,000. IFC & Insurance Marketing Inc. bought a new stake in shares of Magna International during the fourth quarter worth approximately $49,000. Atlas Capital Advisors Inc. bought a new stake in shares of Magna International during the fourth quarter worth approximately $67,000. Finally, Danske Bank A S bought a new position in Magna International in the third quarter valued at approximately $112,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Stock Down 1.5%

NYSE:MGA opened at $65.57 on Thursday. The firm has a market capitalization of $17.37 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45. Magna International Inc. has a twelve month low of $43.11 and a twelve month high of $73.22. The stock’s 50 day moving average price is $67.41 and its two-hundred day moving average price is $63.41. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.33. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The company had revenue of $10.84 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period last year, the firm posted $1.44 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Equities research analysts expect that Magna International Inc. will post 7.06 earnings per share for the current fiscal year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, August 14th. Magna International’s payout ratio is presently 71.74%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Magna International from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. UBS Group increased their target price on Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Scotiabank boosted their target price on Magna International from $74.00 to $78.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 3rd. Morgan Stanley upped their price target on Magna International from $65.00 to $69.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. Finally, Wall Street Zen upgraded shares of Magna International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $68.20.

Magna International Company Profile

Magna International Inc is a Canadian global automotive supplier headquartered in Aurora, Ontario. The company develops and manufactures components, systems and technologies for automakers, serving both traditional internal-combustion vehicle programs and electric-vehicle platforms.

Its principal business areas include body and exterior systems, structures and exteriors, powertrain and driveline systems, seating, electronic systems, advanced driver-assistance technologies and vehicle access systems.