Magna International Inc. (NYSE:MGA) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of Magna International Inc. (NYSE:MGAFree Report) (TSE:MG) by 0.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 945,099 shares of the company’s stock after selling 5,594 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.33% of Magna International worth $51,513,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MGA. Massmutual Trust Co. FSB ADV raised its holdings in shares of 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 buying an additional 526 shares during the last quarter. S.A. Mason LLC lifted its position in Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after acquiring an additional 229 shares during the period. Prime Capital Investment Advisors LLC acquired a new position in shares of Magna International in the fourth quarter valued at about $237,000. QV Investors Inc. raised its stake in shares of Magna International by 20.7% in the fourth quarter. QV Investors Inc. now owns 660,256 shares of the company’s stock worth $39,202,000 after purchasing an additional 113,332 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Magna International during the fourth quarter worth about $312,000. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MGA shares. JPMorgan Chase & Co. increased their price target on shares of Magna International from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Raymond James decreased their target price on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating for the company in a research report on Monday, May 6th. TD Securities cut their price target on Magna International from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Morgan Stanley decreased their price objective on Magna International from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Finally, Wells Fargo & Company reduced their price target on Magna International from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 25th. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $58.13.

Read Our Latest Stock Report on MGA

Magna International Stock Down 0.6 %

MGA stock opened at $42.27 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.09 and a debt-to-equity ratio of 0.38. Magna International Inc. has a 52 week low of $40.83 and a 52 week high of $65.27. The stock has a market capitalization of $12.15 billion, a P/E ratio of 12.01, a P/E/G ratio of 0.54 and a beta of 1.59. The firm has a 50-day simple moving average of $44.71 and a 200-day simple moving average of $51.09.

Magna International (NYSE:MGAGet Free Report) (TSE:MG) last released its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.18). Magna International had a net margin of 2.35% and a return on equity of 12.96%. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.97 billion. During the same quarter last year, the business earned $1.11 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Equities analysts forecast that Magna International Inc. will post 5.83 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend was Thursday, May 16th. Magna International’s dividend payout ratio (DPR) is 53.98%.

Magna International Company Profile

(Free Report)

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.

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

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