ARGA Investment Management LP Has $196.56 Million Stock Holdings in Magna International Inc. $MGA

ARGA Investment Management LP increased its position in Magna International Inc. (NYSE:MGA) (TSE:MG) by 33.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,148,133 shares of the company’s stock after purchasing an additional 1,033,747 shares during the period. Magna International makes up approximately 5.2% of ARGA Investment Management LP’s holdings, making the stock its 7th biggest position. ARGA Investment Management LP owned 1.47% of Magna International worth $196,557,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC purchased a new position in Magna International in the 2nd quarter worth approximately $27,000. Farther Finance Advisors LLC lifted its position in Magna International by 385.1% during the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock valued at $55,000 after purchasing an additional 1,136 shares during the period. Steph & Co. purchased a new stake in Magna International in the second quarter worth approximately $167,000. Arkadios Wealth Advisors purchased a new stake in Magna International in the third quarter worth approximately $210,000. Finally, RiverFront Investment Group LLC bought a new stake in Magna International in the 2nd quarter worth approximately $213,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MGA shares. Royal Bank Of Canada lifted their price objective on Magna International from $47.00 to $48.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. Barclays boosted their price target on Magna International from $52.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday. Evercore ISI increased their price objective on shares of Magna International from $47.00 to $52.00 and gave the stock an “in-line” rating in a research note on Monday, November 24th. TD Securities boosted their target price on shares of Magna International from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, BMO Capital Markets increased their target price on Magna International from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Magna International has a consensus rating of “Hold” and an average price target of $52.47.

Magna International Trading Down 0.4%

Shares of NYSE:MGA opened at $53.21 on Friday. The firm has a market capitalization of $14.91 billion, a P/E ratio of 14.54 and a beta of 1.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.18 and a quick ratio of 0.83. The business’s 50-day moving average is $52.35 and its 200 day moving average is $47.72. Magna International Inc. has a 1 year low of $30.39 and a 1 year high of $57.55.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.09. Magna International had a net margin of 2.50% and a return on equity of 11.88%. The company had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $10.03 billion. During the same quarter in the prior year, the company earned $1.28 EPS. Magna International’s quarterly revenue was up 1.8% on a year-over-year basis. On average, research analysts predict that Magna International Inc. will post 5.87 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.485 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.6%. Magna International’s dividend payout ratio (DPR) is presently 53.01%.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.