Mufg Securities Canada LTD. Has $17.23 Million Stock Position in Magna International Inc. (NYSE:MGA)

Mufg Securities Canada LTD. lifted its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 72.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 412,454 shares of the company’s stock after buying an additional 172,754 shares during the period. Mufg Securities Canada LTD. owned about 0.15% of Magna International worth $17,228,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MGA. Quantbot Technologies LP raised its stake in Magna International by 12.5% during the third quarter. Quantbot Technologies LP now owns 149,327 shares of the company’s stock worth $6,128,000 after acquiring an additional 16,639 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Magna International by 117,113.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock worth $3,464,000 after purchasing an additional 84,322 shares in the last quarter. ARGA Investment Management LP bought a new position in Magna International during the 3rd quarter valued at about $40,710,000. Public Employees Retirement System of Ohio acquired a new position in Magna International in the third quarter valued at about $1,040,000. Finally, Geode Capital Management LLC grew its stake in Magna International by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock worth $46,799,000 after buying an additional 32,000 shares during the last quarter. Institutional investors own 67.49% of the company’s stock.

Magna International Stock Down 0.6 %

Magna International stock opened at $37.22 on Wednesday. Magna International Inc. has a fifty-two week low of $33.30 and a fifty-two week high of $54.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.63 and a beta of 1.65. The company’s 50 day simple moving average is $38.33 and its 200 day simple moving average is $40.96.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.23. The company had revenue of $10.63 billion during 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 was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 EPS. As a group, sell-side analysts anticipate that Magna International Inc. will post 5.87 EPS for the current year.

Magna International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Magna International’s previous quarterly dividend of $0.48. Magna International’s payout ratio is 55.27%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MGA shares. Barclays reduced their target price on Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. TD Securities decreased their target price on Magna International from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Scotiabank cut their price target on Magna International from $49.00 to $45.00 and set a “sector perform” rating for the company in a report on Tuesday, February 18th. Royal Bank of Canada decreased their price objective on shares of Magna International from $52.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, February 18th. Finally, CIBC dropped their target price on shares of Magna International from $44.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.03.

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.