Jones Financial Companies Lllp Purchases 29,567 Shares of Magna International Inc. (NYSE:MGA)

Jones Financial Companies Lllp increased its position in Magna International Inc. (NYSE:MGA) (TSE:MG) by 35.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 112,932 shares of the company’s stock after purchasing an additional 29,567 shares during the quarter. Jones Financial Companies Lllp’s holdings in Magna International were worth $4,719,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MGA. Janney Montgomery Scott LLC raised its holdings in shares of Magna International by 11.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company’s stock valued at $8,644,000 after purchasing an additional 21,532 shares during the period. Van ECK Associates Corp raised its holdings in shares of Magna International by 6.6% in the 3rd quarter. Van ECK Associates Corp now owns 12,290 shares of the company’s stock valued at $517,000 after purchasing an additional 766 shares during the period. Kennebec Savings Bank acquired a new position in Magna International in the 3rd quarter valued at about $32,000. Strengthening Families & Communities LLC grew its stake in Magna International by 10.7% in the 3rd quarter. Strengthening Families & Communities LLC now owns 43,484 shares of the company’s stock valued at $1,785,000 after buying an additional 4,209 shares during the last quarter. Finally, Quantbot Technologies LP grew its stake in Magna International by 12.5% in the 3rd quarter. Quantbot Technologies LP now owns 149,327 shares of the company’s stock valued at $6,128,000 after buying an additional 16,639 shares during the last quarter. 67.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on MGA shares. Barclays decreased their price target on shares of Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Raymond James decreased their price target on shares of Magna International from $53.00 to $50.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 18th. TD Securities decreased their price target on shares of Magna International from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their price target on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Finally, Bank of America lowered shares of Magna International from a “buy” rating to a “neutral” rating and decreased their price target for the company from $52.00 to $48.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.88.

Magna International Stock Performance

NYSE MGA opened at $34.20 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 9.74, a P/E/G ratio of 0.63 and a beta of 1.61. The firm’s 50 day simple moving average is $39.82 and its 200 day simple moving average is $41.50. Magna International Inc. has a 1 year low of $33.30 and a 1 year high of $56.12.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.23. The business had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $1.33 EPS. As a group, research analysts expect that Magna International Inc. will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.485 dividend. This is an increase from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, February 28th. This represents a $1.94 annualized dividend and a yield of 5.67%. Magna International’s dividend payout ratio is presently 55.27%.

Magna International Profile

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.