Thurston Springer Miller Herd & Titak Inc. Invests $28,000 in Magna International Inc. (NYSE:MGA)

Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Magna International Inc. (NYSE:MGA) (TSE:MG) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 676 shares of the company’s stock, valued at approximately $28,000.

A number of other institutional investors have also recently added to or reduced their stakes in MGA. EverSource Wealth Advisors LLC lifted its position in shares of Magna International by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock valued at $72,000 after acquiring an additional 319 shares during the period. LRI Investments LLC acquired a new position in Magna International during the first quarter worth $36,000. Russell Investments Group Ltd. boosted its position in Magna International by 35.5% during the first quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock worth $60,118,000 after purchasing an additional 289,105 shares in the last quarter. Forsta AP Fonden grew its holdings in Magna International by 20.4% in 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 during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Magna International by 22.2% in the first quarter. SG Americas Securities LLC now owns 36,170 shares of the company’s stock valued at $1,971,000 after buying an additional 6,581 shares in the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Scotiabank lowered their price objective on shares of Magna International from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday. UBS Group lowered their price target on shares of Magna International from $51.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. The Goldman Sachs Group cut their price objective on Magna International from $56.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Morgan Stanley lowered their target price on Magna International from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Finally, Royal Bank of Canada cut their price target on Magna International from $59.00 to $57.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Magna International currently has a consensus rating of “Hold” and an average price target of $51.94.

Magna International Trading Up 1.8 %

Shares of MGA traded up $0.71 during mid-day trading on Wednesday, reaching $39.35. The company had a trading volume of 287,556 shares, compared to its average volume of 1,617,830. Magna International Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $60.55. The firm has a fifty day simple moving average of $43.14 and a 200-day simple moving average of $48.92. The stock has a market cap of $11.31 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 0.59 and a beta of 1.59. The company has a current ratio of 1.09, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, August 2nd. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). The firm had revenue of $10.96 billion during the quarter, compared to analyst estimates of $11.01 billion. Magna International had a net margin of 2.35% and a return on equity of 12.96%. Magna International’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.50 EPS. On average, sell-side analysts anticipate that Magna International Inc. will post 5.68 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.90 annualized dividend and a yield of 4.83%. Magna International’s payout ratio is 53.98%.

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.