SG Americas Securities LLC Increases Stake in Magna International Inc. (MGA)

SG Americas Securities LLC lifted its holdings in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 359.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,301 shares of the company’s stock after acquiring an additional 17,452 shares during the period. SG Americas Securities LLC’s holdings in Magna International were worth $1,247,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Aperio Group LLC grew its position in shares of Magna International by 0.4% during the third quarter. Aperio Group LLC now owns 374,145 shares of the company’s stock worth $19,654,000 after acquiring an additional 1,337 shares during the last quarter. Regent Investment Management LLC grew its position in Magna International by 23.9% in the 3rd quarter. Regent Investment Management LLC now owns 8,860 shares of the company’s stock valued at $465,000 after buying an additional 1,710 shares during the last quarter. CLARET ASSET MANAGEMENT Corp grew its position in Magna International by 27.3% in the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 8,326 shares of the company’s stock valued at $437,000 after buying an additional 1,788 shares during the last quarter. Kendall Capital Management grew its position in Magna International by 10.0% in the 3rd quarter. Kendall Capital Management now owns 21,690 shares of the company’s stock valued at $1,139,000 after buying an additional 1,980 shares during the last quarter. Finally, Meadow Creek Investment Management LLC purchased a new position in Magna International in the 2nd quarter valued at $116,000. Institutional investors and hedge funds own 59.08% of the company’s stock.

Magna International stock opened at $45.50 on Friday. Magna International Inc. has a one year low of $45.13 and a one year high of $67.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 0.86. The firm has a market capitalization of $15.70 billion, a price-to-earnings ratio of 7.07, a price-to-earnings-growth ratio of 0.82 and a beta of 1.35.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Thursday, November 8th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Magna International had a return on equity of 19.98% and a net margin of 5.83%. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter last year, the company earned $1.36 earnings per share. Magna International’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, analysts predict that Magna International Inc. will post 6.72 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Friday, November 23rd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Wednesday, November 21st. Magna International’s dividend payout ratio (DPR) is currently 22.15%.

A number of equities analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Magna International in a research report on Tuesday, October 2nd. They issued an “outperform” rating on the stock. Morgan Stanley lowered their price objective on shares of Magna International from $53.00 to $48.00 and set a “sell” rating on the stock in a research report on Monday, August 13th. Wells Fargo & Co lowered their price objective on shares of Magna International from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 17th. TD Securities lowered their price objective on shares of Magna International from $70.00 to $65.00 and set a “hold” rating on the stock in a research report on Monday, October 29th. Finally, Zacks Investment Research upgraded shares of Magna International from a “sell” rating to a “hold” rating in a research report on Wednesday, September 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $67.07.

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Magna International Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

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Institutional Ownership by Quarter for Magna International (NYSE:MGA)

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