Systematic Financial Management LP Reduces Stock Position in Magna International Inc. (NYSE:MGA)

Systematic Financial Management LP trimmed its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,745 shares of the company’s stock after selling 950 shares during the period. Systematic Financial Management LP’s holdings in Magna International were worth $1,672,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ARGA Investment Management LP purchased a new position in shares of Magna International in the third quarter worth approximately $40,710,000. BNP Paribas Financial Markets boosted its stake in shares of Magna International by 117,113.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock worth $3,464,000 after acquiring an additional 84,322 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Magna International by 12.5% during the 3rd quarter. Quantbot Technologies LP now owns 149,327 shares of the company’s stock valued at $6,128,000 after acquiring an additional 16,639 shares during the period. Strengthening Families & Communities LLC increased its stake in shares of Magna International by 10.7% in the 3rd quarter. Strengthening Families & Communities LLC now owns 43,484 shares of the company’s stock worth $1,785,000 after purchasing an additional 4,209 shares in the last quarter. Finally, Kennebec Savings Bank purchased a new stake in Magna International in the third quarter worth about $32,000. Institutional investors own 67.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MGA. StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. TD Securities reduced their price objective on shares of Magna International from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Royal Bank of Canada lowered their target price on shares of Magna International from $42.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Monday, November 4th. UBS Group increased their price target on Magna International from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company boosted their price objective on Magna International from $44.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Magna International currently has a consensus rating of “Hold” and a consensus target price of $49.76.

Magna International Price Performance

MGA stock opened at $45.79 on Friday. The company has a fifty day simple moving average of $42.81 and a two-hundred day simple moving average of $42.55. Magna International Inc. has a 52 week low of $38.01 and a 52 week high of $60.32. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $13.16 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 0.84 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.20). Magna International had a return on equity of 11.88% and a net margin of 2.52%. The company had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same period in the previous year, the firm earned $1.46 earnings per share. The company’s revenue was down 3.8% compared to the same quarter last year. Analysts anticipate that Magna International Inc. will post 5.22 earnings per share for the current fiscal year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.475 per share. The ex-dividend date was Friday, November 15th. This represents a $1.90 annualized dividend and a yield of 4.15%. Magna International’s payout ratio is presently 50.80%.

Magna International 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.