Public Employees Retirement System of Ohio Sells 332 Shares of Magna International Inc. $MGA

Public Employees Retirement System of Ohio reduced its holdings in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,046 shares of the company’s stock after selling 332 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Magna International were worth $1,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MGA. Versant Capital Management Inc bought a new position in shares of Magna International during the first quarter valued at $27,000. SG Americas Securities LLC lifted its holdings in shares of Magna International by 11.9% during the first quarter. SG Americas Securities LLC now owns 54,440 shares of the company’s stock valued at $1,850,000 after purchasing an additional 5,797 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Magna International by 19.9% during the first quarter. Janney Montgomery Scott LLC now owns 251,832 shares of the company’s stock valued at $8,560,000 after purchasing an additional 41,811 shares in the last quarter. Lorne Steinberg Wealth Management Inc. lifted its holdings in shares of Magna International by 6.4% during the first quarter. Lorne Steinberg Wealth Management Inc. now owns 84,570 shares of the company’s stock valued at $2,877,000 after purchasing an additional 5,075 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Magna International by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 252,500 shares of the company’s stock valued at $8,582,000 after purchasing an additional 13,220 shares in the last quarter. 67.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MGA. Barclays upped their price target on Magna International from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. TD Securities increased their target price on Magna International from $50.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Evercore ISI increased their target price on Magna International from $37.00 to $40.00 and gave the company an “in-line” rating in a report on Monday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Magna International in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. increased their target price on Magna International from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Magna International Stock Up 1.0%

Shares of MGA opened at $48.97 on Friday. The business’s 50 day moving average is $45.11 and its 200 day moving average is $39.56. The company has a market capitalization of $13.80 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.08 and a beta of 1.53. Magna International Inc. has a 12-month low of $30.39 and a 12-month high of $49.00. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, August 1st. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.25. The company had revenue of $10.82 billion for the quarter, compared to the consensus estimate of $10.10 billion. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the company earned $1.35 EPS. Magna International has set its FY 2025 guidance at EPS. Research analysts expect that Magna International Inc. will post 5.87 earnings per share for the current fiscal year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, August 15th. Magna International’s dividend payout ratio (DPR) is 45.54%.

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.