BNP Paribas Financial Markets Has $62,000 Stock Position in Magna International Inc. (NYSE:MGA)

BNP Paribas Financial Markets lowered its holdings in Magna International Inc. (NYSE:MGA) (TSE:MG) by 98.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,489 shares of the company’s stock after selling 82,905 shares during the quarter. BNP Paribas Financial Markets’ holdings in Magna International were worth $62,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGA. 1620 Investment Advisors Inc. grew its holdings in shares of Magna International by 3.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock worth $328,000 after purchasing an additional 276 shares in the last quarter. Lindbrook Capital LLC grew its holdings in shares of Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after purchasing an additional 312 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Magna International during the 4th quarter worth approximately $33,000. CIBC Private Wealth Group LLC grew its holdings in shares of Magna International by 290.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,501 shares of the company’s stock worth $141,000 after purchasing an additional 2,605 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Magna International by 9.0% during the 4th quarter. Ameriprise Financial Inc. now owns 48,106 shares of the company’s stock worth $2,010,000 after purchasing an additional 3,956 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on MGA shares. Scotiabank decreased their price objective on Magna International from $45.00 to $38.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 29th. Wall Street Zen raised Magna International from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th. CIBC raised their target price on Magna International from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Veritas upgraded Magna International to a “hold” rating in a research report on Thursday, April 24th. Finally, Barclays cut their target price on Magna International from $47.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.56.

Magna International Trading Down 2.1%

MGA stock opened at $35.51 on Tuesday. The company has a market cap of $10.00 billion, a P/E ratio of 10.12, a PEG ratio of 0.63 and a beta of 1.52. Magna International Inc. has a twelve month low of $30.39 and a twelve month high of $47.22. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $34.23 and a 200-day moving average of $38.32.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The firm had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.66 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The company’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. As a group, equities research analysts expect that Magna International Inc. will post 5.87 EPS for the current year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.485 per share. The ex-dividend date was Friday, May 16th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.46%. Magna International’s payout ratio is currently 48.50%.

Magna International Company Profile

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.