Magna International Inc. $MGA is ARGA Investment Management LP’s 7th Largest Position

ARGA Investment Management LP boosted its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 33.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,148,133 shares of the company’s stock after acquiring an additional 1,033,747 shares during the period. Magna International comprises approximately 5.2% of ARGA Investment Management LP’s investment portfolio, making the stock its 7th largest position. ARGA Investment Management LP’s holdings in Magna International were worth $196,557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of MGA. Integrated Wealth Concepts LLC grew its stake in shares of Magna International by 19.8% in the first quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company’s stock valued at $231,000 after buying an additional 1,123 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Magna International by 385.1% during the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after purchasing an additional 1,136 shares during the period. Steph & Co. acquired a new stake in shares of Magna International during the second quarter worth about $167,000. Kendall Capital Management purchased a new position in shares of Magna International in the second quarter valued at approximately $327,000. Finally, LRI Investments LLC acquired a new position in shares of Magna International in the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Analyst Upgrades and Downgrades

MGA has been the subject of several recent research reports. Scotiabank raised their price target on shares of Magna International from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Monday, November 3rd. UBS Group upped their price target on Magna International from $49.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. increased their price target on Magna International from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. BMO Capital Markets boosted their price objective on Magna International from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Finally, Royal Bank Of Canada lifted their price target on shares of Magna International from $47.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Monday, November 3rd. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Magna International currently has an average rating of “Hold” and a consensus price target of $52.47.

Magna International Stock Down 0.4%

MGA opened at $53.21 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.18 and a debt-to-equity ratio of 0.38. The company has a market cap of $14.91 billion, a PE ratio of 14.54 and a beta of 1.50. The business has a 50 day moving average price of $52.35 and a two-hundred day moving average price of $47.72. Magna International Inc. has a 52 week low of $30.39 and a 52 week high of $57.55.

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

Magna International Dividend Announcement

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

About Magna International

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.