Magna International Inc. $MGA Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 2.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 487,633 shares of the company’s stock after purchasing an additional 13,439 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.18% of Magna International worth $27,215,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MGA. Integrated Wealth Concepts LLC grew its position in Magna International by 19.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company’s stock worth $231,000 after purchasing an additional 1,123 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Magna International by 14.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 56,868 shares of the company’s stock worth $2,196,000 after acquiring an additional 7,073 shares during the period. Van ECK Associates Corp lifted its stake in shares of Magna International by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 8,879 shares of the company’s stock worth $421,000 after acquiring an additional 505 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Magna International by 196.9% in the third quarter. Public Employees Retirement System of Ohio now owns 139,659 shares of the company’s stock valued at $6,620,000 after acquiring an additional 92,613 shares in the last quarter. Finally, Danske Bank A S bought a new position in shares of Magna International in the third quarter valued at approximately $112,000. 67.49% of the stock is currently owned by institutional investors.

Magna International Stock Up 2.4%

Shares of Magna International stock opened at $67.22 on Tuesday. The stock has a 50-day moving average price of $65.26 and a 200 day moving average price of $60.69. The company has a market cap of $17.97 billion, a P/E ratio of 28.13, a P/E/G ratio of 0.90 and a beta of 1.44. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38. Magna International Inc. has a 1 year low of $40.51 and a 1 year high of $69.94.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 1st. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.37. The company had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, analysts expect that Magna International Inc. will post 6.82 EPS for the current fiscal year.

Magna International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, May 15th. Magna International’s dividend payout ratio (DPR) is currently 82.85%.

Analyst Ratings Changes

A number of equities analysts have issued reports on MGA shares. Citigroup increased their price target on Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Barclays dropped their price objective on Magna International from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, March 30th. Scotiabank upped their price objective on Magna International from $72.00 to $74.00 and gave the company a “sector outperform” rating in a report on Monday, July 20th. Wells Fargo & Company decreased their target price on Magna International from $69.00 to $59.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Finally, TD lifted their target price on Magna International from $75.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Magna International currently has an average rating of “Hold” and a consensus price target of $65.73.

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.