Magna International Inc. (NYSE:MGA) Shares Purchased by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB raised its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 88.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,113 shares of the company’s stock after purchasing an additional 992 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Magna International were worth $88,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MGA. ARGA Investment Management LP purchased a new stake in shares of Magna International during the 3rd quarter worth about $40,710,000. Millennium Management LLC increased its position in shares of Magna International by 135.5% in the second quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock worth $6,818,000 after acquiring an additional 93,637 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Magna International by 117,113.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock valued at $3,464,000 after acquiring an additional 84,322 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Magna International by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock valued at $46,799,000 after acquiring an additional 32,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Magna International during the third quarter worth about $1,040,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. TD Securities decreased their target price on shares of Magna International from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, September 30th. The Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $42.00 to $41.00 in a research note on Wednesday, December 11th. Scotiabank upped their target price on shares of Magna International from $50.00 to $52.00 and gave the company a “sector perform” rating in a research note on Monday, November 4th. StockNews.com raised Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Wolfe Research raised shares of Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $49.88.

Magna International Stock Performance

MGA stock opened at $40.17 on Friday. The company has a market capitalization of $11.36 billion, a P/E ratio of 10.74, a PEG ratio of 0.64 and a beta of 1.62. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The company has a 50-day simple moving average of $42.90 and a 200 day simple moving average of $42.20. Magna International Inc. has a fifty-two week low of $38.01 and a fifty-two week high of $59.37.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The company had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter last year, the business earned $1.46 earnings per share. The company’s revenue was down 3.8% on a year-over-year basis. Sell-side analysts predict that Magna International Inc. will post 5.22 earnings per share for the current fiscal year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.475 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.73%. Magna International’s payout ratio is currently 50.80%.

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.