SG Americas Securities LLC Buys 6,447 Shares of Magna International Inc. (NYSE:MGA)

SG Americas Securities LLC increased its stake in shares of Magna International Inc. (NYSE:MGAGet Rating) (TSE:MG) by 66.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 16,161 shares of the company’s stock after acquiring an additional 6,447 shares during the quarter. SG Americas Securities LLC’s holdings in Magna International were worth $1,039,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MGA. Sound Shore Management Inc CT grew its stake in Magna International by 22.7% in the 4th quarter. Sound Shore Management Inc CT now owns 1,365,824 shares of the company’s stock valued at $110,550,000 after purchasing an additional 252,299 shares during the period. Toronto Dominion Bank lifted its position in shares of Magna International by 5.7% during the 4th quarter. Toronto Dominion Bank now owns 1,736,285 shares of the company’s stock valued at $140,482,000 after buying an additional 93,128 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Magna International by 14.2% during the 4th quarter. Schroder Investment Management Group now owns 728,556 shares of the company’s stock valued at $74,568,000 after buying an additional 90,461 shares during the last quarter. NewGen Asset Management Ltd purchased a new position in shares of Magna International during the 1st quarter valued at $5,380,000. Finally, Credit Suisse AG lifted its position in shares of Magna International by 14.2% during the 4th quarter. Credit Suisse AG now owns 443,644 shares of the company’s stock valued at $35,908,000 after buying an additional 55,167 shares during the last quarter. Institutional investors own 62.57% of the company’s stock.

Magna International Price Performance

Shares of Magna International stock opened at $63.86 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.89 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $18.46 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44. The business’s 50-day moving average price is $59.52 and its 200-day moving average price is $65.32. Magna International Inc. has a 12 month low of $52.47 and a 12 month high of $90.15.

Magna International (NYSE:MGAGet Rating) (TSE:MG) last announced its quarterly earnings data on Friday, April 29th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.05 by $0.23. Magna International had a return on equity of 11.21% and a net margin of 3.54%. The firm had revenue of $9.64 billion for the quarter, compared to analyst estimates of $9.03 billion. During the same period in the prior year, the company earned $1.86 EPS. The company’s revenue was down 5.3% on a year-over-year basis. Sell-side analysts forecast that Magna International Inc. will post 4.85 EPS for the current fiscal year.

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, August 11th. This represents a $1.80 annualized dividend and a yield of 2.82%. Magna International’s payout ratio is 42.86%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MGA shares. Benchmark dropped their price objective on Magna International from $92.00 to $77.00 in a report on Tuesday, May 10th. Citigroup dropped their price objective on Magna International from $81.00 to $77.00 in a report on Monday, May 2nd. Morgan Stanley dropped their price objective on Magna International from $84.00 to $79.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. Raymond James set a $68.00 price objective on Magna International and gave the stock a “market perform” rating in a report on Monday, May 2nd. Finally, BNP Paribas began coverage on Magna International in a report on Monday, April 11th. They issued an “underperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Magna International currently has a consensus rating of “Hold” and an average price target of $76.55.

About Magna International

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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.

See Also

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Institutional Ownership by Quarter for Magna International (NYSE:MGA)

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