Magna International Inc. (TSE:MG – Get Free Report) (NYSE:MGA)’s share price traded down 0.2% on Thursday . The company traded as low as C$64.21 and last traded at C$64.25. 1,620,541 shares were traded during mid-day trading, an increase of 28% from the average session volume of 1,266,155 shares. The stock had previously closed at C$64.41.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on MG. Wolfe Research upgraded Magna International from a “strong sell” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada downgraded shares of Magna International from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 13th.
Magna International Stock Down 0.2 %
Magna International Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 29th were given a dividend of $0.475 per share. The ex-dividend date was Friday, November 15th. This represents a $1.90 annualized dividend and a dividend yield of 2.96%. Magna International’s dividend payout ratio is presently 54.01%.
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.
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