Magna International Inc. $MGA Stock Position Lessened by ARGA Investment Management LP

ARGA Investment Management LP reduced its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 10.1% in the first quarter, Holdings Channel.com reports. The fund owned 3,771,359 shares of the company’s stock after selling 421,770 shares during the period. Magna International makes up approximately 6.9% of ARGA Investment Management LP’s portfolio, making the stock its 4th biggest position. ARGA Investment Management LP’s holdings in Magna International were worth $210,606,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in Magna International by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock worth $128,774,000 after purchasing an additional 154,710 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Magna International by 7.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock valued at $111,549,000 after buying an additional 151,819 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in Magna International by 2.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 725,425 shares of the company’s stock valued at $38,741,000 after buying an additional 16,255 shares in the last quarter. Achmea Investment Management B.V. bought a new stake in shares of Magna International during the third quarter valued at about $8,606,000. Finally, State of Tennessee Department of Treasury increased its position in shares of Magna International by 0.6% during the fourth quarter. State of Tennessee Department of Treasury now owns 157,482 shares of the company’s stock valued at $8,095,000 after buying an additional 937 shares during the period. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Price Performance

MGA stock opened at $64.30 on Friday. The firm has a 50 day simple moving average of $64.30 and a two-hundred day simple moving average of $59.71. The stock has a market cap of $17.36 billion, a PE ratio of 26.90, a P/E/G ratio of 0.87 and a beta of 1.44. Magna International Inc. has a one year low of $40.51 and a one year high of $69.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88.

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. Magna International had a net margin of 1.60% and a return on equity of 14.01%. The firm had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter last year, the company posted $0.78 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, analysts predict that Magna International Inc. will post 6.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.495 per share. The ex-dividend date was Friday, May 15th. This represents a $1.98 dividend on an annualized basis and a yield of 3.1%. Magna International’s dividend payout ratio (DPR) is presently 82.85%.

Analyst Ratings Changes

A number of research firms have recently commented on MGA. TD raised their price objective on shares of Magna International from $75.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Scotiabank raised shares of Magna International from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $69.00 to $72.00 in a report on Friday, April 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Magna International in a research note on Friday, May 29th. Zacks Research downgraded shares of Magna International from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Citigroup boosted their price target on shares of Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $65.60.

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.