Syon Capital LLC Makes New $250,000 Investment in Magna International Inc. (NYSE:MGA)

Syon Capital LLC bought a new position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,230 shares of the company’s stock, valued at approximately $250,000.

Other large investors have also recently added to or reduced their stakes in the company. Lorne Steinberg Wealth Management Inc. boosted its position in Magna International by 3.9% during the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 71,358 shares of the company’s stock worth $4,217,000 after purchasing an additional 2,646 shares during the period. Natixis Advisors L.P. boosted its position in Magna International by 243.3% during the third quarter. Natixis Advisors L.P. now owns 50,803 shares of the company’s stock worth $2,724,000 after purchasing an additional 36,005 shares during the period. Toronto Dominion Bank boosted its position in Magna International by 8.7% during the third quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock worth $105,430,000 after purchasing an additional 157,808 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Magna International by 0.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock worth $56,325,000 after purchasing an additional 2,727 shares during the period. Finally, Prime Capital Investment Advisors LLC bought a new stake in Magna International during the fourth quarter worth approximately $237,000. Institutional investors own 67.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MGA. Citigroup cut their price target on Magna International from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, February 12th. Scotiabank cut their price target on Magna International from $62.00 to $59.00 and set a “sector perform” rating for the company in a report on Monday, February 12th. Barclays cut their price target on Magna International from $63.00 to $62.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Royal Bank of Canada cut their price target on Magna International from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Monday, February 12th. Finally, BMO Capital Markets cut their price target on Magna International from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $62.50.

Magna International Stock Performance

Shares of NYSE:MGA opened at $49.12 on Friday. The business’s fifty day moving average price is $52.66 and its two-hundred day moving average price is $54.11. Magna International Inc. has a fifty-two week low of $46.71 and a fifty-two week high of $65.27. The stock has a market capitalization of $14.11 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 0.49 and a beta of 1.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). Magna International had a net margin of 2.83% and a return on equity of 13.15%. The company had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter last year, the company earned $0.91 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. As a group, analysts predict that Magna International Inc. will post 6.13 EPS for the current fiscal year.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.87%. This is a boost from Magna International’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, February 22nd. Magna International’s dividend payout ratio is 45.02%.

About Magna International

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.