Hillsdale Investment Management Inc. Sells 150,560 Shares of Magna International Inc. (NYSE:MGA)

Hillsdale Investment Management Inc. trimmed its position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 99.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 740 shares of the company’s stock after selling 150,560 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Magna International were worth $40,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. grew its stake in shares of Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after buying an additional 523 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Magna International during the 1st quarter valued at about $49,000. S.A. Mason LLC raised its position in Magna International by 24.4% in the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after acquiring an additional 229 shares during the period. Parallel Advisors LLC lifted its position in Magna International by 50.8% during the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after purchasing an additional 879 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Magna International by 13.0% during the 1st quarter. UMB Bank n.a. now owns 3,036 shares of the company’s stock valued at $165,000 after buying an additional 350 shares in the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on MGA shares. Barclays reduced their price objective on shares of Magna International from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Citigroup reduced their target price on shares of Magna International from $52.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Raymond James cut their target price on Magna International from $60.00 to $57.00 and set a “market perform” rating on the stock in a research report on Monday, May 6th. Evercore reduced their price objective on shares of Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th. Finally, Scotiabank reduced their target price on Magna International from $59.00 to $55.00 and set a “sector perform” rating on the stock in a research note on Monday, May 6th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $54.24.

Magna International Stock Up 2.1 %

MGA traded up $0.92 on Monday, hitting $44.56. The company had a trading volume of 1,024,345 shares, compared to its average volume of 1,571,390. The stock has a market capitalization of $12.80 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 0.56 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.09. The stock has a fifty day moving average price of $44.05 and a 200-day moving average price of $49.94. Magna International Inc. has a 12-month low of $40.83 and a 12-month high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). Magna International had a return on equity of 12.96% and a net margin of 2.35%. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.97 billion. During the same period in the previous year, the firm earned $1.11 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts predict that Magna International Inc. will post 5.83 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.26%. The ex-dividend date was Thursday, May 16th. Magna International’s dividend payout ratio is presently 53.98%.

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.