Sumitomo Mitsui Trust Holdings Inc. Has $56.33 Million Stake in Magna International Inc. (NYSE:MGA)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 950,693 shares of the company’s stock after purchasing an additional 2,727 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Magna International were worth $56,325,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Rhumbline Advisers boosted its position in Magna International by 5.0% in the 3rd quarter. Rhumbline Advisers now owns 4,773 shares of the company’s stock valued at $256,000 after buying an additional 226 shares during the last quarter. S.A. Mason LLC boosted its holdings in Magna International by 24.4% in the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after acquiring an additional 229 shares during the last quarter. Van ECK Associates Corp increased its position in Magna International by 9.6% in the third quarter. Van ECK Associates Corp now owns 3,576 shares of the company’s stock worth $192,000 after purchasing an additional 312 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Magna International by 332.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after purchasing an additional 526 shares during the period. Finally, Azimuth Capital Investment Management LLC raised its holdings in Magna International by 0.6% during the 1st quarter. Azimuth Capital Investment Management LLC now owns 103,655 shares of the company’s stock worth $5,553,000 after purchasing an additional 635 shares during the last quarter. Institutional investors own 67.49% of the company’s stock.

Analysts Set New Price Targets

MGA has been the topic of several recent research reports. Raymond James reduced their target price on shares of Magna International from $62.00 to $60.00 and set a “market perform” rating on the stock in a research note on Monday, February 12th. UBS Group raised their price objective on shares of Magna International from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. StockNews.com cut shares of Magna International from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. cut their price target on Magna International from $77.00 to $69.00 and set an “overweight” rating on the stock in a research note on Monday, February 12th. Finally, Evercore cut Magna International from an “outperform” rating to an “in-line” rating and decreased their price objective for the stock from $75.00 to $62.00 in a research note on Monday. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $62.93.

Magna International Trading Up 0.0 %

NYSE MGA opened at $47.86 on Friday. Magna International Inc. has a one year low of $46.71 and a one year high of $65.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. The firm has a market cap of $13.75 billion, a P/E ratio of 11.34, a P/E/G ratio of 0.49 and a beta of 1.69. The stock’s 50-day moving average is $53.35 and its 200-day moving average is $54.27.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, February 9th. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.13). The company 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 business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share. Sell-side analysts anticipate that Magna International Inc. will post 6.11 earnings per share for the current fiscal year.

Magna International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a $0.475 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This is a positive change from Magna International’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a yield of 3.97%. Magna International’s dividend payout ratio is presently 45.02%.

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.