Plato Investment Management Ltd Buys New Position in Magna International Inc. $MGA

Plato Investment Management Ltd bought a new stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 114,356 shares of the company’s stock, valued at approximately $7,473,000.

A number of other institutional investors also recently made changes to their positions in the stock. ARGA Investment Management LP boosted its holdings in shares of Magna International by 1.1% in the fourth quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock valued at $223,512,000 after acquiring an additional 44,996 shares in the last quarter. Geode Capital Management LLC raised its holdings in Magna International by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock worth $128,774,000 after purchasing an additional 154,710 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Magna International by 7.8% in the fourth quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock worth $111,549,000 after purchasing an additional 151,819 shares during the period. Hillsdale Investment Management Inc. boosted its stake in Magna International by 14.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock valued at $46,486,000 after purchasing an additional 107,150 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Magna International by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 487,633 shares of the company’s stock valued at $27,215,000 after purchasing an additional 13,439 shares in the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Stock Performance

Shares of NYSE MGA opened at $70.24 on Monday. 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 Inc. has a 12 month low of $43.11 and a 12 month high of $71.96. The company has a market cap of $18.78 billion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 0.76 and a beta of 1.44. The business has a fifty day simple moving average of $66.53 and a 200-day simple moving average of $62.12.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.33. The firm had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.63 billion. Magna International had a return on equity of 15.04% and a net margin of 1.80%.Magna International’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $1.44 EPS. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Sell-side analysts predict that Magna International Inc. will post 7.05 EPS for the current year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, August 14th. Magna International’s dividend payout ratio (DPR) is presently 71.74%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MGA shares. Scotiabank upped their price objective on Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a report on Monday, August 3rd. Canadian Imperial Bank of Commerce lowered their target price on Magna International to $74.00 in a report on Monday, May 4th. Weiss Ratings raised shares of Magna International from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. Veritas upgraded shares of Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Zacks Research cut shares of Magna International from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $67.93.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.