Summit Global Investments Sells 37,757 Shares of Magna International Inc. $MGA

Summit Global Investments cut its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 62.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,821 shares of the company’s stock after selling 37,757 shares during the period. Summit Global Investments’ holdings in Magna International were worth $1,453,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Founders Financial Securities LLC bought a new stake in shares of Magna International in the 3rd quarter valued at about $1,770,000. Shakespeare Wealth Management LLC bought a new stake in Magna International in the 3rd quarter valued at approximately $283,000. Sigma Planning Corp bought a new stake in Magna International in the 3rd quarter valued at approximately $206,000. Signaturefd LLC boosted its position in Magna International by 7.6% during the 3rd quarter. Signaturefd LLC now owns 14,353 shares of the company’s stock worth $914,000 after acquiring an additional 1,012 shares during the last quarter. Finally, Kendall Capital Management boosted its position in Magna International by 12.1% during the 3rd quarter. Kendall Capital Management now owns 20,088 shares of the company’s stock worth $1,279,000 after acquiring an additional 2,170 shares during the last quarter. Institutional investors own 67.49% of the company’s stock.

Wall Street Analysts Forecast Growth

MGA has been the topic of a number of recent research reports. Morgan Stanley lowered their price objective on shares of Magna International from $69.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday, October 15th. TD decreased their target price on shares of Magna International from $80.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Scotiabank lifted their price target on shares of Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. lowered shares of Magna International from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $77.00 to $72.00 in a research note on Tuesday, September 15th. Finally, Barclays boosted their price target on shares of Magna International from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Magna International has a consensus rating of “Hold” and a consensus price target of $68.87.

Key Magna International News

Here are the key news stories impacting Magna International this week:

• Positive Sentiment: Earnings materially exceeded estimates. Adjusted EPS rose 38% year over year to $1.83, above the $1.58 consensus estimate, while reported diluted EPS increased 33% to $1.44. Magna tops Q3 earnings and revenue estimates
• Positive Sentiment: Margins and operating performance improved. Adjusted EBIT increased 11% to $683 million, and the adjusted EBIT margin expanded 90 basis points to 6.8%, driven by productivity initiatives, restructuring benefits, favorable commercial items, and lower tariff costs. Magna Q3 2026 margins rise as revenue softens
• Positive Sentiment: Cash returns and capital allocation support the shares. Magna returned $658 million to shareholders during the quarter and authorized a new buyback program covering up to 10% of its public float over the next 12 months. The company also raised its 2026 free-cash-flow outlook to $1.85 billion-$1.90 billion. Magna announces strong third-quarter results
• Neutral Sentiment: Management reaffirmed the midpoint of its 2026 adjusted EPS outlook at $6.85-$7.15 and narrowed the adjusted EBIT margin range to 6.3%-6.5%, suggesting confidence in profitability but less certainty around the operating range.
• Negative Sentiment: Revenue declined and the sales outlook was reduced. Third-quarter sales fell 4% to $10.1 billion as North American and Chinese vehicle production declined, programs ended, and recent divestitures reduced revenue. Full-year sales guidance was lowered to $41.2 billion-$42.0 billion, partly reflecting weaker expected production in China and unfavorable program mix. Magna Q3 adjusted earnings rise while sales fall

Magna International Trading Down 0.2%

Shares of Magna International stock opened at $63.71 on Monday. Magna International Inc. has a 12-month low of $45.33 and a 12-month high of $73.22. The stock has a market cap of $16.54 billion, a P/E ratio of 20.42, a P/E/G ratio of 0.68 and a beta of 1.46. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $65.04 and its 200-day moving average is $62.66.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, October 30th. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.25. The business had revenue of $9.86 billion during the quarter, compared to analysts’ expectations of $10.01 billion. Magna International had a net margin of 1.99% and a return on equity of 16.10%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned $1.33 earnings per share. Equities research analysts predict that Magna International Inc. will post 7.03 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a dividend of $0.4950 per share. This represents a $1.98 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, November 13th. Magna International’s payout ratio is 71.74%.

About Magna International

Magna International Inc is a global automotive supplier headquartered in Aurora, Ontario, Canada. The company designs, engineers and manufactures components and systems for automakers, serving vehicle manufacturers across North America, Europe and Asia.

Its products and services span several automotive categories, including body and chassis structures, exterior systems, powertrain and driveline components, seating, vehicle electronics, lighting, mirrors, and advanced driver assistance technologies.