Quantbot Technologies LP Has $5.56 Million Stake in Magna International Inc. (NYSE:MGA)

Quantbot Technologies LP increased its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 616.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,688 shares of the company’s stock after acquiring an additional 114,160 shares during the quarter. Quantbot Technologies LP’s holdings in Magna International were worth $5,560,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sunbelt Securities Inc. increased its position in Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after buying an additional 523 shares in the last quarter. LRI Investments LLC acquired a new stake in Magna International in the 1st quarter valued at $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Magna International during the 2nd quarter valued at $28,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Magna International during the first quarter worth $49,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Magna International by 32.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock worth $72,000 after buying an additional 319 shares during the last quarter. 67.49% of the stock is owned by institutional investors.

Magna International Stock Up 2.0 %

Shares of MGA opened at $40.20 on Monday. Magna International Inc. has a 1 year low of $38.01 and a 1 year high of $60.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.12 and a quick ratio of 0.77. The stock has a 50 day simple moving average of $41.78 and a two-hundred day simple moving average of $45.93. The firm has a market cap of $11.55 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.60 and a beta of 1.59.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, August 2nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). Magna International had a net margin of 2.29% and a return on equity of 12.53%. The company had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period last year, the business posted $1.50 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, analysts forecast that Magna International Inc. will post 5.58 earnings per share for the current fiscal year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date was Friday, August 16th. Magna International’s payout ratio is 53.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MGA shares. BMO Capital Markets decreased their target price on shares of Magna International from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Barclays reduced their target price on shares of Magna International from $55.00 to $50.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. UBS Group dropped their price target on shares of Magna International from $51.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Scotiabank decreased their price objective on shares of Magna International from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 6th. Finally, Raymond James cut their target price on Magna International from $57.00 to $53.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Magna International currently has a consensus rating of “Hold” and a consensus target price of $51.06.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.