Bank of New York Mellon Corp Purchases 13,439 Shares of Magna International Inc. $MGA

Bank of New York Mellon Corp increased its position in Magna International Inc. (NYSE:MGA) (TSE:MG) by 2.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 487,633 shares of the company’s stock after buying an additional 13,439 shares during the period. Bank of New York Mellon Corp’s holdings in Magna International were worth $27,215,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MGA. Geode Capital Management LLC lifted its stake in shares of Magna International by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock valued at $128,774,000 after purchasing an additional 154,710 shares during the last quarter. Russell Investments Group Ltd. increased its position in Magna International by 7.8% during the fourth quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock worth $111,549,000 after buying an additional 151,819 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Magna International by 14.8% during the first quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock worth $46,486,000 after buying an additional 107,150 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Magna International by 196.9% during the third quarter. Public Employees Retirement System of Ohio now owns 139,659 shares of the company’s stock valued at $6,620,000 after buying an additional 92,613 shares in the last quarter. Finally, ARGA Investment Management LP raised its holdings in Magna International by 1.1% during the fourth quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock valued at $223,512,000 after buying an additional 44,996 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Scotiabank upped their price target on Magna International from $72.00 to $74.00 and gave the stock a “sector outperform” rating in a research note on Monday, July 20th. Veritas raised Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Citigroup boosted their target price on Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. The Goldman Sachs Group lowered their price target on Magna International from $60.00 to $52.00 and set a “sell” rating on the stock in a report on Tuesday, April 14th. Finally, Barclays dropped their price target on shares of Magna International from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Magna International has a consensus rating of “Hold” and a consensus price target of $65.73.

Magna International Stock Up 2.4%

Shares of MGA stock opened at $67.22 on Tuesday. Magna International Inc. has a 12 month low of $40.51 and a 12 month high of $69.94. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The firm has a market cap of $17.97 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44. The stock has a 50 day moving average of $65.26 and a 200-day moving average of $60.69.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter last year, the company posted $0.78 earnings per share. Magna International’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, equities analysts predict that Magna International Inc. will post 6.82 EPS for the current year.

Magna International Announces Dividend

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

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.