Todd Asset Management LLC increased its holdings in shares of Magna International, Inc. (NYSE:MGA) (TSE:MG) by 53.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 319,941 shares of the company’s stock after buying an additional 110,835 shares during the period. Todd Asset Management LLC owned about 0.09% of Magna International worth $17,079,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Russell Investments Group Ltd. boosted its position in Magna International by 34.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,020,359 shares of the company’s stock worth $93,453,000 after buying an additional 521,929 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Magna International by 2.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,173,053 shares of the company’s stock worth $54,242,000 after purchasing an additional 26,742 shares during the period. US Bancorp DE lifted its position in shares of Magna International by 9.6% in the 2nd quarter. US Bancorp DE now owns 922,553 shares of the company’s stock worth $42,742,000 after purchasing an additional 80,773 shares during the period. Becker Capital Management Inc. lifted its position in shares of Magna International by 2.0% in the 3rd quarter. Becker Capital Management Inc. now owns 804,100 shares of the company’s stock worth $42,923,000 after purchasing an additional 15,515 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Magna International in the 2nd quarter worth approximately $20,547,000. Institutional investors and hedge funds own 59.13% of the company’s stock.
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Shares of Magna International, Inc. (NYSE MGA) traded up $0.02 during mid-day trading on Tuesday, reaching $53.04. 631,500 shares of the company’s stock were exchanged, compared to its average volume of 1,394,635. The company has a market cap of $19,611.99, a price-to-earnings ratio of 9.45, a PEG ratio of 0.94 and a beta of 1.49. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Magna International, Inc. has a fifty-two week low of $38.27 and a fifty-two week high of $55.76.
Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Thursday, November 9th. The company reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.05. The business had revenue of $9.50 billion during the quarter, compared to analyst estimates of $9.26 billion. Magna International had a net margin of 5.63% and a return on equity of 19.46%. Magna International’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 EPS. research analysts anticipate that Magna International, Inc. will post 5.95 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.10 dividend on an annualized basis and a yield of 2.07%. Magna International’s dividend payout ratio (DPR) is presently 19.61%.
A number of research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Magna International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 18th. Zacks Investment Research downgraded shares of Magna International from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Goldman Sachs Group, Inc. (The) downgraded shares of Magna International from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $45.00 to $41.00 in a research report on Monday, October 16th. KeyCorp boosted their price target on shares of Magna International from $55.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. Finally, BMO Capital Markets restated a “hold” rating on shares of Magna International in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.00.
Magna International Company Profile
Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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