Magna International Inc. (NYSE:MGA) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its holdings in Magna International Inc. (NYSE:MGAGet Rating) (TSE:MG) by 11.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,455 shares of the company’s stock after acquiring an additional 468 shares during the quarter. Van ECK Associates Corp’s holdings in Magna International were worth $211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MGA. Quent Capital LLC increased its stake in Magna International by 616.7% in the second quarter. Quent Capital LLC now owns 516 shares of the company’s stock valued at $28,000 after purchasing an additional 444 shares during the period. Grayhawk Investment Strategies Inc. purchased a new stake in Magna International during the 2nd quarter valued at approximately $30,000. Counterpoint Mutual Funds LLC lifted its position in Magna International by 484.3% during the 2nd quarter. Counterpoint Mutual Funds LLC now owns 2,004 shares of the company’s stock worth $110,000 after acquiring an additional 1,661 shares during the period. Cigna Investments Inc. New grew its stake in shares of Magna International by 4.7% in the 2nd quarter. Cigna Investments Inc. New now owns 5,457 shares of the company’s stock valued at $299,000 after purchasing an additional 243 shares during the last quarter. Finally, DGS Capital Management LLC increased its holdings in shares of Magna International by 7.3% in the second quarter. DGS Capital Management LLC now owns 6,767 shares of the company’s stock valued at $372,000 after purchasing an additional 460 shares during the period. Hedge funds and other institutional investors own 59.63% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Raymond James lowered their target price on shares of Magna International from $68.00 to $62.00 and set a “market perform” rating on the stock in a report on Tuesday, September 27th. Royal Bank of Canada dropped their target price on Magna International from $69.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, November 7th. The Goldman Sachs Group reduced their price target on Magna International from $77.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, October 11th. Bank of America lowered Magna International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $102.00 to $72.00 in a report on Monday, January 9th. Finally, Benchmark reduced their target price on Magna International from $77.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $69.15.

Magna International Stock Performance

Shares of NYSE MGA opened at $63.86 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 0.86. The company has a market cap of $18.26 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 0.79 and a beta of 1.52. The company has a 50-day simple moving average of $59.85 and a 200-day simple moving average of $57.61. Magna International Inc. has a 12 month low of $45.58 and a 12 month high of $89.53.

Magna International (NYSE:MGAGet Rating) (TSE:MG) last issued its quarterly earnings results on Friday, November 4th. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.06). Magna International had a return on equity of 11.41% and a net margin of 2.57%. The business had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.34 billion. On average, equities analysts anticipate that Magna International Inc. will post 4.54 earnings per share for the current year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Friday, November 18th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Thursday, November 17th. Magna International’s dividend payout ratio is currently 55.90%.

Magna International Company Profile

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Magna International, Inc is a mobility technology company, which engages in the design, engineering, and manufacturing of automotive supplies. It operates through the following segments: Body Exteriors and Structures, Power and Vision, Seating Systems, and Complete Vehicles. The Body Exteriors and Structures segment includes body and chassis systems, exterior systems, and roof systems operations.

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

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