Sciencast Management LP Invests $653,000 in Magna International Inc. (NYSE:MGA)

Sciencast Management LP bought a new position in Magna International Inc. (NYSE:MGA) (TSE:MG) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 15,615 shares of the company’s stock, valued at approximately $653,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. 1620 Investment Advisors Inc. grew its position in shares of Magna International by 3.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock worth $328,000 after buying an additional 276 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position 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 worth $46,000 after buying an additional 301 shares during the period. Lindbrook Capital LLC grew its position 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 worth $43,000 after buying an additional 312 shares during the period. Avior Wealth Management LLC grew its position in Magna International by 2,400.0% during the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after purchasing an additional 600 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in Magna International during the 4th quarter valued at about $33,000. 67.49% of the stock is owned by hedge funds and other institutional investors.

Magna International Price Performance

Shares of NYSE:MGA opened at $36.47 on Friday. The firm’s 50 day moving average price is $38.45 and its 200-day moving average price is $41.00. Magna International Inc. has a twelve month low of $33.30 and a twelve month high of $54.98. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $10.27 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 0.63 and a beta of 1.65.

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

Magna International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, February 28th. This represents a $1.94 annualized dividend and a yield of 5.32%. This is an increase from Magna International’s previous quarterly dividend of $0.48. Magna International’s payout ratio is currently 55.27%.

Analysts Set New Price Targets

Several brokerages recently commented on MGA. 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. Wells Fargo & Company cut their price objective on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. Wolfe Research raised shares of Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Raymond James cut their price objective on shares of 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. Finally, 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. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Magna International has a consensus rating of “Hold” and an average target price of $47.03.

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.