Janney Montgomery Scott LLC Acquires 21,532 Shares of Magna International Inc. (NYSE:MGA)

Janney Montgomery Scott LLC increased its holdings in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 11.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 210,632 shares of the company’s stock after purchasing an additional 21,532 shares during the period. Janney Montgomery Scott LLC’s holdings in Magna International were worth $8,644,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Toronto Dominion Bank lifted its holdings in Magna International by 1.9% during the second quarter. Toronto Dominion Bank now owns 1,609,223 shares of the company’s stock worth $67,426,000 after buying an additional 30,361 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Magna International during the 1st quarter worth $1,009,000. Forsta AP Fonden boosted its position in Magna International by 20.4% during the first quarter. Forsta AP Fonden now owns 64,800 shares of the company’s stock valued at $3,533,000 after purchasing an additional 11,000 shares in the last quarter. LRI Investments LLC purchased a new position in Magna International in the first quarter valued at about $36,000. Finally, BNP Paribas Financial Markets raised its holdings in Magna International by 202.7% in the first quarter. BNP Paribas Financial Markets now owns 26,298 shares of the company’s stock worth $1,433,000 after purchasing an additional 17,611 shares in the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

Magna International Stock Performance

Shares of MGA stock opened at $43.16 on Friday. The stock has a market cap of $12.40 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.68 and a beta of 1.59. Magna International Inc. has a 52-week low of $38.01 and a 52-week high of $60.32. The business has a 50-day simple moving average of $41.37 and a 200-day simple moving average of $43.02. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.20). The company had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. Magna International had a return on equity of 11.88% and a net margin of 2.52%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 EPS. On average, equities analysts expect that Magna International Inc. will post 5.3 EPS for the current year.

Magna International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.475 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.40%. Magna International’s dividend payout ratio (DPR) is currently 50.80%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MGA shares. Wolfe Research reaffirmed an “underperform” rating on shares of Magna International in a research report on Thursday, September 5th. Citigroup reduced their price target on Magna International from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Raymond James lowered their price objective on Magna International from $57.00 to $53.00 and set a “market perform” rating for the company in a research report on Tuesday, August 6th. Evercore ISI reduced their target price on Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th. Finally, Royal Bank of Canada lowered their price target on Magna International from $42.00 to $41.00 and set a “sector perform” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $49.76.

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.