SG Americas Securities LLC Has $820,000 Position in Magna International Inc. $MGA

SG Americas Securities LLC cut its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 68.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,307 shares of the company’s stock after selling 37,324 shares during the quarter. SG Americas Securities LLC’s holdings in Magna International were worth $820,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC acquired a new position in shares of Magna International during the second quarter valued at about $27,000. Farther Finance Advisors LLC boosted its holdings in Magna International by 385.1% in the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after acquiring an additional 1,136 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Magna International by 115.3% in the second quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock worth $96,000 after acquiring an additional 1,338 shares in the last quarter. Steph & Co. acquired a new stake in Magna International in the second quarter valued at approximately $167,000. Finally, RiverFront Investment Group LLC bought a new stake in shares of Magna International during the second quarter valued at approximately $213,000. 67.49% of the stock is owned by institutional investors.

Magna International Trading Down 2.2%

Shares of MGA stock opened at $53.63 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18. The company has a market capitalization of $15.03 billion, a price-to-earnings ratio of 14.65 and a beta of 1.50. Magna International Inc. has a 52-week low of $30.39 and a 52-week high of $57.55. The company has a 50-day simple moving average of $52.11 and a two-hundred day simple moving average of $47.54.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.09. The firm had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $10.03 billion. Magna International had a return on equity of 11.88% and a net margin of 2.50%.The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 EPS. Research analysts anticipate that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.6%. Magna International’s dividend payout ratio (DPR) is currently 53.01%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MGA shares. UBS Group increased their target price on Magna International from $49.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Citigroup raised their price objective on shares of Magna International from $49.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. Wells Fargo & Company lifted their price objective on shares of Magna International from $50.00 to $58.00 and gave the company an “equal weight” rating in a report on Monday, January 12th. TD Securities boosted their target price on shares of Magna International from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Magna International from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Magna International has a consensus rating of “Hold” and an average target price of $52.07.

Magna International Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.