Magna International (TSE:MG) Insider Sells C$3,630,061.80 in Stock

Magna International Inc. (TSE:MG) (NYSE:MGA) insider Tom Rucker Joerg sold 39,210 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of C$92.58, for a total transaction of C$3,630,061.80. Following the completion of the sale, the insider directly owned 31,633 shares of the company’s stock, valued at C$2,928,583.14. This trade represents a 55.35% decrease in their position.

Magna International Price Performance

Shares of Magna International stock opened at C$92.13 on Friday. Magna International Inc. has a 52-week low of C$49.65 and a 52-week high of C$96.00. The stock has a market capitalization of C$25.08 billion, a price-to-earnings ratio of 38.87, a price-to-earnings-growth ratio of 0.45 and a beta of 2.19. The company has a fifty day moving average of C$83.94 and a 200-day moving average of C$78.61. The company has a debt-to-equity ratio of 56.24, a quick ratio of 0.83 and a current ratio of 1.22.

Magna International (TSE:MG) (NYSE:MGA) last announced its quarterly earnings data on Friday, May 1st. The company reported C$1.92 earnings per share (EPS) for the quarter. The company had revenue of C$14.43 billion during the quarter. Magna International had a net margin of 1.59% and a return on equity of 5.43%. Equities research analysts expect that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, May 15th. Magna International’s dividend payout ratio is 82.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MG shares. Scotiabank raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Veritas raised shares of Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Four analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Magna International has a consensus rating of “Buy” and a consensus target price of C$61.00.

Magna International Company Profile

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.