Bruce Cluney Sells 5,000 Shares of Magna International (TSE:MG) Stock

Magna International Inc. (TSE:MG) (NYSE:MGA) insider Bruce Cluney sold 5,000 shares of Magna International stock in a transaction on Monday, August 3rd. The stock was sold at an average price of C$95.22, for a total value of C$476,100.00. Following the transaction, the insider directly owned 40,239 shares of the company’s stock, valued at C$3,831,557.58. This trade represents a 11.05% decrease in their position.

Magna International Price Performance

Magna International stock opened at C$95.10 on Friday. Magna International Inc. has a 52 week low of C$57.85 and a 52 week high of C$101.10. The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 55.07. The firm’s 50-day simple moving average is C$93.11 and its 200 day simple moving average is C$85.11. The firm has a market capitalization of C$26.29 billion, a PE ratio of 34.96, a P/E/G ratio of 0.45 and a beta of 2.11.

Magna International (TSE:MG) (NYSE:MGA) last posted its earnings results on Friday, July 31st. The company reported C$2.64 earnings per share for the quarter. Magna International had a net margin of 1.77% and a return on equity of 6.15%. The firm had revenue of C$15.60 billion during the quarter. On average, equities research analysts predict that Magna International Inc. will post 8.8948171 EPS for the current fiscal year.

Magna International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 28th will be paid a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.1%. Magna International’s dividend payout ratio (DPR) is presently 72.06%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Veritas raised shares of Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Scotiabank raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Strong Buy”.

Magna International Company Profile

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.