Strengthening Families & Communities LLC Grows Position in Magna International Inc. (NYSE:MGA)

Strengthening Families & Communities LLC boosted its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 10.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,484 shares of the company’s stock after purchasing an additional 4,209 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Magna International were worth $1,785,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in Magna International by 32.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock worth $72,000 after buying an additional 319 shares during the period. Grove Bank & Trust grew its stake in Magna International by 70.4% during the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after buying an additional 343 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in Magna International by 84.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock worth $46,000 after buying an additional 513 shares during the period. LRI Investments LLC purchased a new stake in Magna International during the first quarter worth approximately $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Magna International during the second quarter worth $28,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Price Performance

Shares of NYSE MGA opened at $43.90 on Monday. Magna International Inc. has a twelve month low of $38.01 and a twelve month high of $60.32. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.72 and a beta of 1.59. The firm has a 50-day moving average of $41.72 and a two-hundred day moving average of $42.73.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The firm had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. During the same period in the prior year, the company posted $1.46 earnings per share. Magna International’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, analysts expect that Magna International Inc. will post 5.28 earnings per share for the current fiscal year.

Magna International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend is Friday, November 15th. Magna International’s dividend payout ratio is presently 50.80%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Magna International from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. UBS Group upped their price target on shares of Magna International from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Bank of America cut their price target on shares of Magna International from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Wolfe Research reaffirmed an “underperform” rating on shares of Magna International in a report on Thursday, September 5th. Finally, Scotiabank upped their price target on shares of Magna International from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Magna International currently has a consensus rating of “Hold” and an average price target of $49.76.

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.