Mufg Securities Canada LTD. Purchases 172,754 Shares of Magna International Inc. (NYSE:MGA)

Mufg Securities Canada LTD. grew its position in Magna International Inc. (NYSE:MGA) (TSE:MG) by 72.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 412,454 shares of the company’s stock after purchasing an additional 172,754 shares during the period. Mufg Securities Canada LTD.’s holdings in Magna International were worth $17,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of MGA. Toronto Dominion Bank lifted its stake in Magna International by 1.2% in the 3rd quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock valued at $66,810,000 after acquiring an additional 18,704 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Magna International by 12.5% in the third quarter. Quantbot Technologies LP now owns 149,327 shares of the company’s stock worth $6,128,000 after purchasing an additional 16,639 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Magna International by 35.5% during the fourth quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company’s stock worth $4,719,000 after purchasing an additional 29,567 shares during the last quarter. DGS Capital Management LLC grew its position in Magna International by 111.0% in the fourth quarter. DGS Capital Management LLC now owns 21,048 shares of the company’s stock valued at $880,000 after purchasing an additional 11,072 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Magna International by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock valued at $46,799,000 after buying an additional 32,000 shares during the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Stock Down 0.6 %

Shares of MGA opened at $37.22 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. Magna International Inc. has a 12 month low of $33.30 and a 12 month high of $54.82. The firm’s 50 day moving average is $38.33 and its 200-day moving average is $40.96. The stock has a market capitalization of $10.48 billion, a PE ratio of 10.60, a P/E/G ratio of 0.63 and a beta of 1.65.

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

Magna International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.485 dividend. This is a positive change from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 5.21%. 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 recently commented on MGA shares. Evercore ISI reduced their price objective on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a research note on Tuesday, February 18th. The Goldman Sachs Group lowered Magna International from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $42.00 to $41.00 in a research report on Wednesday, December 11th. Morgan Stanley decreased their target price on shares of Magna International from $43.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Barclays dropped their price target on shares of Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada decreased their price objective on shares of Magna International from $52.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company 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.