Magna International Inc. $MGA Shares Sold by Forsta AP Fonden

Forsta AP Fonden trimmed its holdings in Magna International Inc. (NYSE:MGA) (TSE:MG) by 57.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,000 shares of the company’s stock after selling 83,100 shares during the quarter. Forsta AP Fonden’s holdings in Magna International were worth $3,310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MGA. Integrated Wealth Concepts LLC boosted its holdings in 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 purchasing an additional 1,123 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Magna International by 14.2% in the second quarter. Ameriprise Financial Inc. now owns 56,868 shares of the company’s stock valued at $2,196,000 after purchasing an additional 7,073 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Magna International by 8.9% in the third quarter. Jones Financial Companies Lllp now owns 133,207 shares of the company’s stock valued at $6,210,000 after purchasing an additional 10,889 shares in the last quarter. AGF Management Ltd. acquired a new position in Magna International in the third quarter valued at approximately $14,191,000. Finally, Plato Investment Management Ltd acquired a new position in Magna International in the third quarter valued at approximately $1,880,000. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Price Performance

MGA stock opened at $68.11 on Wednesday. The company has a market capitalization of $18.54 billion, a P/E ratio of 28.50, a PEG ratio of 0.88 and a beta of 1.43. Magna International Inc. has a twelve month low of $35.34 and a twelve month high of $69.94. The business has a 50 day simple moving average of $59.85 and a 200-day simple moving average of $56.64. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, May 1st. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.37. The business had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.14 billion. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 earnings per share. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, equities analysts anticipate that Magna International Inc. will post 6.87 EPS for the current year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $0.495 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.98 annualized dividend and a dividend yield of 2.9%. Magna International’s dividend payout ratio (DPR) is currently 82.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley upped their price target on Magna International from $54.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, February 18th. Canadian Imperial Bank of Commerce lowered their price target on Magna International to $74.00 in a report on Monday, May 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magna International in a report on Friday. Bank of America began coverage on Magna International in a report on Wednesday, March 4th. They issued a “buy” rating for the company. Finally, Zacks Research downgraded Magna International from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.13.

Magna International Company 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.