Prime Capital Investment Advisors LLC Acquires New Stake in Magna International Inc. (NYSE:MGA)

Prime Capital Investment Advisors LLC acquired a new position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,010 shares of the company’s stock, valued at approximately $237,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its stake in Magna International by 5.0% in the 3rd quarter. Rhumbline Advisers now owns 4,773 shares of the company’s stock worth $256,000 after buying an additional 226 shares during the last quarter. S.A. Mason LLC boosted its stake in Magna International by 24.4% in the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after buying an additional 229 shares during the last quarter. Van ECK Associates Corp boosted its stake in Magna International by 9.6% in the 3rd quarter. Van ECK Associates Corp now owns 3,576 shares of the company’s stock worth $192,000 after buying an additional 312 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Magna International in the 3rd quarter worth about $26,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after purchasing an additional 526 shares in the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Trading Down 2.8 %

Shares of MGA stock opened at $49.84 on Friday. 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 Inc. has a 1 year low of $46.71 and a 1 year high of $65.27. The stock has a fifty day moving average of $54.11 and a two-hundred day moving average of $54.41. The firm has a market capitalization of $14.32 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). The business had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.44 billion. Magna International had a return on equity of 13.15% and a net margin of 2.83%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 EPS. As a group, research analysts expect that Magna International Inc. will post 6.11 EPS for the current year.

Magna International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a $0.475 dividend. This is a positive change from Magna International’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, February 22nd. This represents a $1.90 annualized dividend and a dividend yield of 3.81%. Magna International’s dividend payout ratio is 45.02%.

Wall Street Analysts Forecast Growth

MGA has been the topic of several research analyst reports. Barclays reduced their price objective on Magna International from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday. TD Securities reduced their price objective on Magna International from $73.00 to $69.00 and set a “buy” rating on the stock in a research note on Monday, February 12th. UBS Group lifted their price objective on Magna International from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Scotiabank reduced their price target on Magna International from $62.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Monday, February 12th. Finally, Wells Fargo & Company reduced their price target on Magna International from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.86.

About Magna International

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.