QV Investors Inc. Sells 1,886 Shares of Magna International Inc. (NYSE:MGA)

QV Investors Inc. reduced its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 658,937 shares of the company’s stock after selling 1,886 shares during the quarter. Magna International accounts for 2.4% of QV Investors Inc.’s portfolio, making the stock its 13th largest position. QV Investors Inc. owned about 0.23% of Magna International worth $27,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in Magna International during the 2nd quarter valued at about $28,000. Sunbelt Securities Inc. raised its stake in shares of Magna International by 2,179.2% in the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares during the last quarter. Grove Bank & Trust boosted its holdings in shares of Magna International by 70.4% in the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after acquiring an additional 343 shares in the last quarter. LRI Investments LLC bought a new stake in Magna International during the 1st quarter worth approximately $36,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Magna International by 84.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after purchasing an additional 513 shares in the last quarter. 67.49% of the stock is owned by institutional investors.

Magna International Stock Down 1.0 %

Magna International stock opened at $41.04 on Wednesday. Magna International Inc. has a fifty-two week low of $38.01 and a fifty-two week high of $60.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.12 and a quick ratio of 0.77. The firm has a market capitalization of $11.79 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.64 and a beta of 1.59. The company’s 50 day simple moving average is $40.86 and its 200 day simple moving average is $44.06.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, August 2nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.11). The firm had revenue of $10.96 billion during the quarter, compared to analyst estimates of $11.01 billion. Magna International had a net margin of 2.29% and a return on equity of 12.53%. Magna International’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the firm earned $1.50 EPS. As a group, sell-side analysts anticipate that Magna International Inc. will post 5.49 EPS for the current year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend was Friday, August 16th. Magna International’s dividend payout ratio (DPR) is presently 53.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MGA shares. JPMorgan Chase & Co. reduced their price objective on Magna International from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Scotiabank reduced their price target on shares of Magna International from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 6th. UBS Group lowered their price objective on shares of Magna International from $51.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. TD Securities reduced their target price on shares of Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, BMO Capital Markets lowered their price target on shares of Magna International from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $49.94.

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.