Nikko Asset Management Americas Inc. Has $4.40 Million Stock Holdings in Magna International Inc. (NYSE:MGA)

Nikko Asset Management Americas Inc. lessened its holdings in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 12.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 105,395 shares of the company’s stock after selling 15,089 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Magna International were worth $4,404,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Avior Wealth Management LLC grew its holdings in shares of Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after buying an additional 600 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock valued at $43,000 after buying an additional 312 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Magna International by 37.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after buying an additional 301 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Magna International by 88.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,113 shares of the company’s stock valued at $88,000 after buying an additional 992 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Magna International in the 4th quarter valued at $213,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. Scotiabank cut their price objective on shares of Magna International from $49.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th. UBS Group cut their price objective on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Evercore ISI cut their price objective on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a research report on Tuesday, February 18th. Finally, Bank of America cut shares of Magna International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $52.00 to $48.00 in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $47.03.

Magna International Stock Up 2.7 %

Shares of MGA stock opened at $36.45 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. The firm’s 50-day moving average is $38.88 and its 200-day moving average is $41.18. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.63 and a beta of 1.65. Magna International Inc. has a 52-week low of $33.30 and a 52-week high of $56.12.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. The company had revenue of $10.63 billion for the quarter, compared to analysts’ expectations of $10.32 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. Magna International’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 EPS. Sell-side analysts predict that Magna International Inc. will post 5.87 EPS for the current year.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.485 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.94 dividend on an annualized basis and a yield of 5.32%. This is a positive change from Magna International’s previous quarterly dividend of $0.48. Magna International’s dividend payout ratio is 55.27%.

About Magna International

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.