Quantbot Technologies LP Sells 45,142 Shares of Magna International Inc. $MGA

Quantbot Technologies LP lowered its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 27.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,766 shares of the company’s stock after selling 45,142 shares during the quarter. Quantbot Technologies LP’s holdings in Magna International were worth $4,663,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MGA. Geode Capital Management LLC increased its holdings in shares of Magna International by 20.2% in the second quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company’s stock worth $77,332,000 after purchasing an additional 338,470 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in Magna International during the 1st quarter valued at approximately $8,416,000. Mediolanum International Funds Ltd bought a new stake in Magna International in the 2nd quarter worth approximately $4,618,000. ARGA Investment Management LP raised its holdings in shares of Magna International by 3.9% during the 2nd quarter. ARGA Investment Management LP now owns 3,114,386 shares of the company’s stock worth $120,366,000 after acquiring an additional 116,529 shares in the last quarter. Finally, Amundi boosted its position in shares of Magna International by 19.0% during the 1st quarter. Amundi now owns 582,710 shares of the company’s stock valued at $19,305,000 after acquiring an additional 93,189 shares during the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Price Performance

Magna International stock opened at $49.46 on Thursday. Magna International Inc. has a 12-month low of $30.39 and a 12-month high of $50.77. The company has a current ratio of 1.18, a quick ratio of 0.83 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $47.36 and a 200-day moving average price of $43.60. The firm has a market capitalization of $13.94 billion, a PE ratio of 13.51 and a beta of 1.53.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.09. The company had revenue of $10.50 billion for the quarter, compared to analyst estimates of $10.03 billion. Magna International had a net margin of 2.50% and a return on equity of 11.88%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 EPS. As a group, equities research analysts forecast that Magna International Inc. will post 5.87 EPS for the current year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, November 14th. Magna International’s dividend payout ratio is presently 53.01%.

Wall Street Analysts Forecast Growth

MGA has been the topic of several research reports. Scotiabank boosted their price target on shares of Magna International from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Monday, November 3rd. TD Securities lifted their price objective on shares of Magna International from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Wells Fargo & Company boosted their target price on shares of Magna International from $45.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Magna International in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on Magna International from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $49.33.

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.