Magna International Inc. (NYSE:MGA) Shares Purchased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Magna International Inc. (NYSE:MGA) (TSE:MG) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 950,693 shares of the company’s stock after acquiring an additional 2,727 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.33% of Magna International worth $56,325,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Pzena Investment Management LLC boosted its holdings in Magna International by 58.2% during the third quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock worth $525,968,000 after buying an additional 3,609,429 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Magna International by 8.7% during the 3rd quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock worth $105,430,000 after acquiring an additional 157,808 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Magna International by 5.6% in the 1st quarter. Geode Capital Management LLC now owns 905,672 shares of the company’s stock worth $48,821,000 after acquiring an additional 47,858 shares during the last quarter. QV Investors Inc. raised its position in shares of Magna International by 20.7% during the fourth quarter. QV Investors Inc. now owns 660,256 shares of the company’s stock worth $39,202,000 after purchasing an additional 113,332 shares during the period. Finally, State of Tennessee Treasury Department lifted its holdings in shares of Magna International by 0.5% during the second quarter. State of Tennessee Treasury Department now owns 153,457 shares of the company’s stock valued at $8,673,000 after purchasing an additional 797 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Wall Street Analysts Forecast Growth

MGA has been the topic of several recent analyst reports. Raymond James cut their price objective on Magna International from $62.00 to $60.00 and set a “market perform” rating on the stock in a report on Monday, February 12th. JPMorgan Chase & Co. decreased their price objective on shares of Magna International from $77.00 to $69.00 and set an “overweight” rating for the company in a research note on Monday, February 12th. Scotiabank cut their target price on shares of Magna International from $62.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Monday, February 12th. StockNews.com lowered Magna International from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, CIBC lowered their price target on Magna International from $63.00 to $61.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.93.

Magna International Stock Up 0.0 %

Shares of Magna International stock opened at $47.86 on Friday. The stock has a 50-day simple moving average of $53.35 and a 200-day simple moving average of $54.27. Magna International Inc. has a 52-week low of $46.71 and a 52-week high of $65.27. The firm has a market cap of $13.75 billion, a price-to-earnings ratio of 11.34, a P/E/G 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 posted its earnings results on Friday, February 9th. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.13). Magna International had a return on equity of 13.15% and a net margin of 2.83%. The business had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. On average, equities research analysts expect that Magna International Inc. will post 6.11 earnings per share for the current fiscal year.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 3.97%. This is an increase 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 presently 45.02%.

Magna International Profile

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.