Tobam Grows Stock Position in Magna International Inc. (NYSE:MGA)

Tobam increased its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 94.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,373 shares of the company’s stock after acquiring an additional 2,122 shares during the period. Tobam’s holdings in Magna International were worth $179,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. SG Americas Securities LLC increased its holdings in Magna International by 11.2% in the third quarter. SG Americas Securities LLC now owns 37,628 shares of the company’s stock valued at $1,544,000 after buying an additional 3,794 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Magna International by 84.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after purchasing an additional 513 shares during the period. Systematic Financial Management LP increased its position in shares of Magna International by 6.0% in the second quarter. Systematic Financial Management LP now owns 41,695 shares of the company’s stock valued at $1,747,000 after buying an additional 2,355 shares in the last quarter. Millennium Management LLC raised its stake in shares of Magna International by 135.5% during the 2nd quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock worth $6,818,000 after buying an additional 93,637 shares during the period. Finally, Toronto Dominion Bank lifted its position in shares of Magna International by 1.9% during the 2nd quarter. Toronto Dominion Bank now owns 1,609,223 shares of the company’s stock valued at $67,426,000 after buying an additional 30,361 shares in the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MGA has been the topic of several recent analyst reports. Raymond James decreased their price objective on shares of Magna International from $57.00 to $53.00 and set a “market perform” rating on the stock in a report on Tuesday, August 6th. Scotiabank lowered their price objective on Magna International from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 6th. Wolfe Research restated an “underperform” rating on shares of Magna International in a research report on Thursday, September 5th. Wells Fargo & Company boosted their price target on Magna International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Finally, Citigroup decreased their price objective on Magna International from $52.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five 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 $49.94.

Magna International Stock Up 0.1 %

Shares of NYSE:MGA opened at $41.29 on Friday. The firm’s 50-day moving average is $40.79 and its two-hundred day moving average is $44.37. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.12 and a quick ratio of 0.77. Magna International Inc. has a 1 year low of $38.01 and a 1 year high of $60.32. The firm has a market capitalization of $11.86 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 0.64 and a beta of 1.59.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, August 2nd. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.11). The business had revenue of $10.96 billion for the quarter, compared to analyst estimates of $11.01 billion. Magna International had a return on equity of 12.53% and a net margin of 2.29%. Magna International’s revenue was down .2% on a year-over-year basis. During the same period last year, the business posted $1.50 EPS. Analysts predict that Magna International Inc. will post 5.49 EPS for the current year.

Magna International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 4.60%. The ex-dividend date was Friday, August 16th. Magna International’s payout ratio is 55.39%.

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.