Magna International Inc. (TSE:MG – Get Free Report) (NYSE:MGA)’s share price hit a new 52-week low on Monday . The company traded as low as C$50.96 and last traded at C$51.15, with a volume of 1421351 shares changing hands. The stock had previously closed at C$52.69.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Wolfe Research upgraded shares of Magna International from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 5th. Royal Bank of Canada upgraded Magna International from a “hold” rating to a “moderate buy” rating in a research report on Friday, January 24th. Finally, The Goldman Sachs Group lowered Magna International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 11th.
View Our Latest Stock Report on MG
Magna International Stock Performance
Magna International Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Magna International’s previous quarterly dividend of $0.48. Magna International’s payout ratio is currently 48.07%.
Magna International Company Profile
Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier’s product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.
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