800 Shares in Magna International Inc. (NYSE:MGA) Bought by Millstone Evans Group LLC

Millstone Evans Group LLC acquired a new stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 800 shares of the company’s stock, valued at approximately $33,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ARGA Investment Management LP boosted its holdings in Magna International by 158.1% during the 4th quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock valued at $107,049,000 after acquiring an additional 1,568,953 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Magna International by 117,113.9% during the third quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock valued at $3,464,000 after purchasing an additional 84,322 shares during the period. Geode Capital Management LLC grew its holdings in shares of Magna International by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock worth $46,799,000 after purchasing an additional 32,000 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Magna International by 35.5% in the fourth quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company’s stock worth $4,719,000 after buying an additional 29,567 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Magna International during the 3rd quarter valued at $1,040,000. 67.49% of the stock is owned by institutional investors.

Magna International Price Performance

MGA stock opened at $37.49 on Tuesday. 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 has a market capitalization of $10.56 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.63 and a beta of 1.65. The firm has a 50 day moving average price of $38.39 and a 200-day moving average price of $40.98. Magna International Inc. has a 52-week low of $33.30 and a 52-week high of $54.98.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.46 by $0.23. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The business had revenue of $10.63 billion for the quarter, compared to the consensus estimate of $10.32 billion. During the same period in the previous year, the company posted $1.33 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts forecast that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.485 per share. This is a positive change from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date was Friday, February 28th. Magna International’s dividend payout ratio (DPR) is currently 55.27%.

Analyst Ratings Changes

A number of equities analysts have issued reports on MGA shares. Morgan Stanley decreased their price objective on shares of Magna International from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Wells Fargo & Company lowered their price target on Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th. Raymond James cut their price objective on Magna International from $53.00 to $50.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 18th. UBS Group decreased their target price on Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Finally, Evercore ISI cut their price target on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a report on Tuesday, February 18th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.03.

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.