Amundi Cuts Stake in Magna International Inc. (NYSE:MGA)

Amundi lessened its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 12.2% during the 4th quarter, Holdings Channel reports. The fund owned 489,521 shares of the company’s stock after selling 67,996 shares during the period. Amundi’s holdings in Magna International were worth $19,742,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MGA. Avior Wealth Management LLC boosted its holdings in Magna International by 2,400.0% in the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after acquiring an additional 600 shares in the last quarter. Lindbrook Capital LLC raised its position in Magna International by 43.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock valued at $43,000 after acquiring an additional 312 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Magna International by 37.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after purchasing an additional 301 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Magna International by 88.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,113 shares of the company’s stock worth $88,000 after acquiring an additional 992 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Magna International in the fourth quarter valued at approximately $213,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Stock Performance

Shares of MGA opened at $35.51 on Friday. The stock has a market capitalization of $10.02 billion, a P/E ratio of 10.12, a P/E/G ratio of 0.63 and a beta of 1.65. Magna International Inc. has a 1 year low of $33.30 and a 1 year high of $56.12. The company’s fifty day moving average is $39.09 and its two-hundred day moving average is $41.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08.

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

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, February 28th. This is a boost from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.46%. Magna International’s dividend payout ratio is 55.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MGA shares. Royal Bank of Canada cut their price objective on Magna International from $52.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company cut their target price on Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, December 16th. UBS Group dropped their target price on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. TD Securities dropped their price objective on shares of Magna International from $50.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Finally, Evercore ISI lowered their target price on 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. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.