Magna International Inc. (NYSE:MGA) Stake Boosted by S.A. Mason LLC

S.A. Mason LLC raised its position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 24.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,166 shares of the company’s stock after buying an additional 229 shares during the quarter. S.A. Mason LLC’s holdings in Magna International were worth $69,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MGA. Thomas White International Ltd. lifted its stake in Magna International by 8.6% in the first quarter. Thomas White International Ltd. now owns 13,142 shares of the company’s stock valued at $845,000 after acquiring an additional 1,043 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in shares of Magna International during the 1st quarter worth approximately $2,036,000. Power Corp of Canada bought a new position in Magna International during the 1st quarter valued at about $574,000. BNP Paribas Arbitrage SA lifted its position in shares of Magna International by 549.6% during the first quarter. BNP Paribas Arbitrage SA now owns 26,177 shares of the company’s stock worth $1,683,000 after purchasing an additional 22,147 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC boosted its holdings in Magna International by 272.2% in the third quarter. BNP Paribas Arbitrage SNC now owns 72,430 shares of the company’s stock valued at $3,435,000 after acquiring an additional 52,971 shares during the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Price Performance

MGA opened at $54.54 on Thursday. The firm has a 50-day moving average of $54.95 and a 200 day moving average of $54.68. Magna International Inc. has a fifty-two week low of $46.71 and a fifty-two week high of $65.27. The firm has a market cap of $15.65 billion, a P/E ratio of 12.92, a PEG ratio of 0.52 and a beta of 1.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). The firm had revenue of $10.45 billion for the quarter, compared to the consensus estimate of $10.44 billion. Magna International had a return on equity of 13.15% and a net margin of 2.83%. The business’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. On average, research analysts expect that Magna International Inc. will post 6.14 EPS for the current year.

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.475 per share. This is an increase from Magna International’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, February 22nd. Magna International’s payout ratio is currently 45.02%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MGA. Raymond James cut their price objective on shares of Magna International from $62.00 to $60.00 and set a “market perform” rating on the stock in a research report on Monday, February 12th. Barclays reduced their price target on Magna International from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. TD Securities dropped their price target on Magna International from $73.00 to $69.00 and set a “buy” rating for the company in a research note on Monday, February 12th. The Goldman Sachs Group lowered shares of Magna International from a “buy” rating to a “neutral” rating and decreased their price target for the company from $73.00 to $58.00 in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company lowered their target price on Magna International from $60.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Magna International has a consensus rating of “Hold” and a consensus target price of $63.93.

Magna International Company 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.